Spring Bank Pharmaceuticals, Inc. (SBPH) Receives New Coverage from Analysts at B. Riley
B. Riley assumed coverage on shares of Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) in a research note issued to investors on Monday morning. The brokerage issued a buy rating and a $30.00 price objective on the stock.
Other analysts have also issued research reports about the company. Dawson James reissued a buy rating on shares of Spring Bank Pharmaceuticals in a report on Monday, August 7th. Chardan Capital reduced their target price on Spring Bank Pharmaceuticals from $34.00 to $30.00 and set a buy rating for the company in a report on Tuesday, August 1st. ValuEngine raised Spring Bank Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 17th. Finally, Cantor Fitzgerald initiated coverage on Spring Bank Pharmaceuticals in a report on Wednesday, July 19th. They issued an overweight rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $27.25.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) traded up $0.48 during trading on Monday, hitting $17.25. The company’s stock had a trading volume of 32,122 shares, compared to its average volume of 47,816. Spring Bank Pharmaceuticals has a twelve month low of $6.31 and a twelve month high of $17.94.
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Several institutional investors and hedge funds have recently modified their holdings of the stock. Parsons Capital Management Inc. RI grew its holdings in shares of Spring Bank Pharmaceuticals by 2.2% in the third quarter. Parsons Capital Management Inc. RI now owns 281,728 shares of the company’s stock worth $4,744,000 after acquiring an additional 6,000 shares during the period. AXA bought a new stake in shares of Spring Bank Pharmaceuticals in the second quarter worth $2,894,000. Sphera Funds Management LTD. bought a new stake in shares of Spring Bank Pharmaceuticals in the second quarter worth $2,370,000. Morse Asset Management Inc grew its holdings in shares of Spring Bank Pharmaceuticals by 94.7% in the third quarter. Morse Asset Management Inc now owns 124,000 shares of the company’s stock worth $2,004,000 after acquiring an additional 60,300 shares during the period. Finally, Sectoral Asset Management Inc bought a new stake in shares of Spring Bank Pharmaceuticals in the second quarter worth $1,523,000. 28.04% of the stock is owned by institutional investors.
About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.
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