Maxim Group Maintains Their Buy Rating on Sophiris Bio (SPHS)


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 opened today at $3.04.

McCarthy observed:

“Sophiris announced that the investigation into the patient death in the P2b study of topsalysin in prostate cancer (PC) was unlikely to be related to the drug or the procedure (see note from 6/25). SPHS shares are up ~25% this morning.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 15.4% and a 48.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Currently, the analyst consensus on Sophiris Bio is a Strong Buy with an average price target of $8.33, implying a 174.0% upside from current levels. In a report issued on August 14, Piper Jaffray also maintained a Buy rating on the stock with a $7 price target.

.

See today’s analyst top recommended stocks >>

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 490.9K.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts