“Valuation and risks to price target achievement. We reiterate our Buy rating and $10 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway. Sophiris Bio Inc.”
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Sophiris Bio has an analyst consensus of Strong Buy, with a price target consensus of $8.33, a 201.8% upside from current levels. In a report issued on August 29, Maxim Group also maintained a Buy rating on the stock with a $8 price target.
Based on Sophiris Bio’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.1 million. In comparison, last year the company had a net profit of $610K.
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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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