H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Sophiris Bio (NASDAQ: SPHS) today and set a price target of $4.30. The company’s shares opened today at $1.97, close to its 52-week low of $1.80.
Pantginis wrote:
“Valuation and risks to price target achievement. We maintain our Buy rating but are reducing our price target to $4.30 from $6. The changes to our valuation include: (1) adjustment to base year; (2) adjustment to fully diluted share count; (3) increasing our discount rate from 15% to 20% to account for the increased risk profile of topsalysin, pending information regarding the patient who passed away; and (4) adjusting our projected launch year for topsalysin to 2023 from 2022, also pending information regarding the patient and next steps.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -9.4% and a 36.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Sophiris Bio has an analyst consensus of Strong Buy, with a price target consensus of $6.43, implying a 226.4% upside from current levels. In a report issued on June 20, Maxim Group also maintained a Buy rating on the stock with a $8 price target.
.
See today’s analyst top recommended stocks >>
Based on Sophiris Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.33 million. In comparison, last year the company had a GAAP net loss of $2.62 million.
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.
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.
