Maxim Group Thinks Sophiris Bio’s Stock is Going to Recover


Maxim Group analyst Jason McCarthy maintained a Buy rating on Sophiris Bio (SPHS) today and set a price target of $6. The company’s shares closed yesterday at $0.97, close to its 52-week low of $0.75.

McCarthy said:

“Sophiris reported 2018 results with operating expenses of $15.1M and net loss of ($6.8M). The company ended the period with $12.5M in cash on the balance sheet and $7M in debt. The cash runway should be until late 3Q19 at the current burn rate, though we expect Sophiris will need to raise capital to fund the planned P3 trial of topsalysin in prostate cancer. The company could also potentially gain a partnership and or some other source of non-dilutive funding to fund the trial.”

According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.9% and a 32.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inovio Pharmaceuticals, and Vertex Pharmaceuticals.

Sophiris Bio has an analyst consensus of Strong Buy, with a price target consensus of $5.50, which is a 468.3% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $3.50 price target.

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The company has a one-year high of $4.05 and a one-year low of $0.75. Currently, Sophiris Bio has an average volume of 236K.

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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.

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