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.

Analyst Recommendations for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

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