In a report released today, Elemer Piros from Cantor Fitzgerald maintained a Buy rating on Spring Bank Pharmaceuticals Inc (SBPH), with a price target of $34. The company’s shares closed yesterday at $10.94.
Piros wrote:
“: This afternoon, Spring Bank Pharmaceuticals hosted an New York. The presentation described upcoming data and designs for late-stage programs related to inarigivir for the treatment of hepatitis B virus (HBV). Key opinion leaders discussed early thoughts on STING competitors, and management highlighted advantages that the company may have in the IO space. We see 2019 as a year to set the stage for pivotal development utilizing a number of different combination approaches in HBV. We believe the name will continue to generate interest from both a partnering and potential M&A standpoint.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.3% and a 37.6% success rate. Piros covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Spring Bank Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $34.25, a 213.1% upside from current levels. In a report issued on November 30, Chardan Capital also reiterated a Buy rating on the stock with a $45 price target.
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Based on Spring Bank Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.78 million. In comparison, last year the company had a GAAP net loss of $10.83 million.
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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.
