HC Wainwright reaffirmed their buy rating on shares of Sophiris Bio, Inc. (NASDAQ:SPHS) in a research note released on Friday. The brokerage currently has a $6.00 price objective on the biopharmaceutical company’s stock.
Other equities research analysts have also issued reports about the stock. Maxim Group set a $6.00 price objective on shares of Sophiris Bio and gave the stock a buy rating in a report on Thursday, June 8th. Rodman & Renshaw restated a buy rating and set a $6.00 price objective on shares of Sophiris Bio in a report on Thursday, June 1st. Finally, ValuEngine lowered shares of Sophiris Bio from a hold rating to a sell rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $6.60.
Sophiris Bio (NASDAQ SPHS) opened at 2.322 on Friday. The stock has a 50 day moving average of $2.02 and a 200-day moving average of $2.32. Sophiris Bio has a 1-year low of $1.80 and a 1-year high of $3.48. The firm’s market capitalization is $69.92 million.
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A hedge fund recently raised its stake in Sophiris Bio stock. Vanguard Group Inc. increased its stake in shares of Sophiris Bio, Inc. (NASDAQ:SPHS) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 731,437 shares of the biopharmaceutical company’s stock after acquiring an additional 7,600 shares during the period. Vanguard Group Inc. owned about 2.43% of Sophiris Bio worth $1,609,000 as of its most recent SEC filing. Institutional investors and hedge funds own 6.01% of the company’s stock.
About Sophiris Bio
Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).
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