Sophiris Bio (NASDAQ:SPHS) received a $10.00 target price from research analysts at HC Wainwright in a research note issued on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 402.51% from the company’s current price.

A number of other research analysts have also issued reports on SPHS. ValuEngine lowered shares of Sophiris Bio from a “buy” rating to a “hold” rating in a research note on Saturday, August 18th. Maxim Group reiterated a “buy” rating and issued a $8.00 price objective on shares of Sophiris Bio in a research note on Wednesday, August 29th.

Shares of Sophiris Bio stock opened at $1.99 on Wednesday. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 1.30. Sophiris Bio has a 12-month low of $1.80 and a 12-month high of $4.05. The company has a market cap of $59.32 million, a price-to-earnings ratio of -4.98 and a beta of 1.85.

Sophiris Bio (NASDAQ:SPHS) last issued its quarterly earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.05). Research analysts forecast that Sophiris Bio will post -0.6 EPS for the current year.

In other Sophiris Bio news, insider Randall E. Woods acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average price of $2.63 per share, for a total transaction of $26,300.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $26,300. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Sophiris Bio stock. Northern Trust Corp increased its position in shares of Sophiris Bio Inc (NASDAQ:SPHS) by 293.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,600 shares of the biopharmaceutical company’s stock after buying an additional 60,092 shares during the period. Northern Trust Corp owned 0.27% of Sophiris Bio worth $226,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.15% of the company’s stock.

About Sophiris Bio

Sophiris Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development of products for the treatment of urological diseases. The company's primary product candidate is PRX302, which is in Phase III clinical trial for treatment of lower urinary tract symptoms of benign prostatic hyperplasia (BPH), as well as for the treatment of localized low to intermediate risk prostate cancer.

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