Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) to Post FY2022 Earnings of $2.73 Per Share, Jefferies Financial Group Forecasts

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Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) – Analysts at Jefferies Financial Group upped their FY2022 earnings per share estimates for shares of Spring Bank Pharmaceuticals in a research report issued on Sunday, November 10th. Jefferies Financial Group analyst M. Raycroft now forecasts that the company will earn $2.73 per share for the year, up from their prior forecast of $2.68. Jefferies Financial Group also issued estimates for Spring Bank Pharmaceuticals’ FY2023 earnings at $5.28 EPS.

Other equities analysts have also issued reports about the company. B. Riley cut their price target on Spring Bank Pharmaceuticals from $24.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Zacks Investment Research downgraded Spring Bank Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Finally, ValuEngine raised Spring Bank Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.80.

Shares of SBPH traded up $0.05 on Tuesday, reaching $3.01. 1,279 shares of the company’s stock traded hands, compared to its average volume of 30,309. The company has a current ratio of 12.18, a quick ratio of 12.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $48.77 million, a PE ratio of -1.61 and a beta of 0.47. The stock’s 50 day simple moving average is $3.15 and its two-hundred day simple moving average is $4.51. Spring Bank Pharmaceuticals has a 52-week low of $2.75 and a 52-week high of $12.31.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last announced its earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.19.

Several hedge funds have recently added to or reduced their stakes in SBPH. Acadian Asset Management LLC purchased a new stake in shares of Spring Bank Pharmaceuticals during the second quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new position in Spring Bank Pharmaceuticals in the 2nd quarter valued at about $44,000. Jane Street Group LLC acquired a new position in Spring Bank Pharmaceuticals in the 2nd quarter valued at about $59,000. Susquehanna International Group LLP acquired a new position in Spring Bank Pharmaceuticals in the 2nd quarter valued at about $91,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Spring Bank Pharmaceuticals by 35.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 25,064 shares of the company’s stock worth $98,000 after acquiring an additional 6,565 shares during the last quarter. 41.90% of the stock is owned by institutional investors and hedge funds.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).

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Earnings History and Estimates for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

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