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 $1.99, close to its 52-week low of $1.80.
McCarthy said:
“Sophiris reported 3Q18 with a net loss of ($2.9M) and ended the period with $14.5M in cash on the balance sheet. The next event (catalyst) for SPHS shares is the data for repeat dose of topsalysin in the phase 2b prostate cancer study in December.”
According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -1.5% and a 30.2% 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, representing a 318.6% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $10 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 322.6K.
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.
