Cantor Fitzgerald analyst Elemer Piros maintained a Buy rating on Spring Bank Pharmaceuticals Inc (NASDAQ: SBPH) today and set a price target of $35. The company’s shares opened today at $11.79, close to its 52-week low of $10.63.
Piros said:
“In HBV, cure rates remain at inadequate levels of 0-10%. Inarigivir stimulates the innate immune response associated with viral infection without unfavorable safety and tolerability issues. For these reasons, Inarigivir has demonstrated the potential to be used in combination with other HBV treatments and further improve upon HBV cure rates.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.6% and a 46.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Global Blood Therapeutics, and Bellicum Pharmaceuticals.
Currently, the analyst consensus on Spring Bank Pharmaceuticals Inc is a Strong Buy with an average price target of $31.
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Based on Spring Bank Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.79 million. In comparison, last year the company had a GAAP net loss of $10.83 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBPH in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Spring Bank Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in discovery and development of a novel class of therapeutics using its proprietary small molecule nucleic acid hybrid (SMNH) chemistry platform. Its pipeline include RIG-I & STING Agonists platforms. The company was founded by Douglas J. Jensen and Radhakrishnan P.
