In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Sophiris Bio (NASDAQ: SPHS), with a price target of $8. The company’s shares closed yesterday at $3.09, close to its 52-week high of $3.14.
McCarthy said:
“Sophiris reported 1Q18 spending of $4.6M on operating expenses and ending the period with $22M in cash on the balance sheet. At the current burn rate, the company has runway into 1H19 and through the next set of catalysts; prostate cancer (PC) data in late 2Q and 4Q for topsalysin. We are factoring in an indication in prostate cancer which raises our price target to $8, from $5 (see below).”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 4.1% and a 44.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Sophiris Bio has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.
See today’s analyst top recommended stocks >>
The company has a one-year high of $3.14 and a one-year low of $1.80. Currently, Sophiris Bio has an average volume of 217K.
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.
