SciClone Pharmaceuticals Inc. (SCLN) Receives New Coverage from Analysts at Maxim Group
Research analysts at Maxim Group began coverage on shares of SciClone Pharmaceuticals Inc. (NASDAQ:SCLN) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $14.00 price target on the specialty pharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 35.27% from the stock’s previous close.
The analysts wrote, “SciClone is a US-based specialty pharma company with its operating focus on the China pharmaceuticals market.””
Shares of SciClone Pharmaceuticals (NASDAQ:SCLN) opened at 10.25 on Monday. The firm’s 50-day moving average is $9.76 and its 200 day moving average is $11.20. SciClone Pharmaceuticals has a 52-week low of $7.36 and a 52-week high of $15.02. The company has a market capitalization of $523.29 million, a price-to-earnings ratio of 14.64 and a beta of 1.65.
In other news, CEO Friedhelm Blobel sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $10.27, for a total transaction of $308,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wilson Wai-Shun Cheung sold 149,962 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $10.00, for a total transaction of $1,499,620.00. Following the sale, the chief financial officer now directly owns 15,064 shares of the company’s stock, valued at approximately $150,640. The disclosure for this sale can be found here. Insiders own 7.63% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of SciClone Pharmaceuticals during the second quarter valued at approximately $180,000. Ameriprise Financial Inc. bought a new stake in shares of SciClone Pharmaceuticals during the second quarter valued at approximately $3,130,000. Principal Financial Group Inc. bought a new stake in shares of SciClone Pharmaceuticals during the second quarter valued at approximately $4,587,000. Virginia Retirement Systems ET AL bought a new stake in shares of SciClone Pharmaceuticals during the second quarter valued at approximately $316,000. Finally, Prudential Financial Inc. increased its stake in shares of SciClone Pharmaceuticals by 150.4% in the second quarter. Prudential Financial Inc. now owns 185,317 shares of the specialty pharmaceutical company’s stock valued at $2,420,000 after buying an additional 111,300 shares during the period. 75.68% of the stock is owned by institutional investors.
SciClone Pharmaceuticals Company Profile
SciClone Pharmaceuticals, Inc is a pharmaceutical company. The Company’s product portfolio of therapies includes oncology, infectious diseases and cardiovascular disorders. The Company operates in two segments: China and the Rest of the World, including its operations in the United States and Hong Kong.
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