In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Sophiris Bio (SPHS), with a price target of $10. The company’s shares closed yesterday at $1.99, close to its 52-week low of $1.80.
Pantginis commented:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $10 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway. Sophiris Bio Inc.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -18.4% and a 25.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Currently, the analyst consensus on Sophiris Bio is a Strong Buy with an average price target of $8.33.
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The company has a one-year high of $4.05 and a one-year low of $1.80. Currently, Sophiris Bio has an average volume of 322.6K.
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Sophiris Bio, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of products for the treatment of urological diseases. It is currently developing PRX302 as a treatment for the symptoms of benign prostatic hyperplasia which is a non cancerous enlargement of the prostate gland that causes a restriction in urine flow from the urethra resulting in lower urinary tract symptoms. The company was founded by James L. Heppell in May 2003 and is headquartered in La Jolla, CA.
