B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Spring Bank Pharmaceuticals Inc (SBPH) today and set a price target of $24. The company’s shares closed yesterday at $10.47.
Mamtani commented:
“Pharmaceuticals (SBPH) reported 4Q18 financial results and shared corporate updates, mainly related to continued progress of (1) inarigivir and SB9225 in HBV and (2) SB11285, novel STING agonist, in immuno-oncology. ($0.32) came in ahead of our/consensus’ estimates of ($0.47)/($0.57). We update our model to reflect 4Q18 financial results, maintain Buy and our $24 PT, and highlight the many data catalysts in the next 12–18 months that, we believe, could drive SBPH shares higher, beginning with a Ph. II ACHIEVE final readout in mid April.”
According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 5.0% and a 52.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Madrigal Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.
Currently, the analyst consensus on Spring Bank Pharmaceuticals Inc is a Strong Buy with an average price target of $26, which is a 148.3% upside from current levels. In a report issued on March 11, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $29 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $15.79 and a one-year low of $8.14. Currently, Spring Bank Pharmaceuticals Inc has an average volume of 21.76K.
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.
Spring Bank Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in discovery and development of a novel class of therapeutics using its proprietary small molecule nucleic acid hybrid (SMNH) chemistry platform. Its pipeline include RIG-I & STING Agonists platforms. The company was founded by Douglas J. Jensen and Radhakrishnan P.
