Brokers Issue Forecasts for Sophiris Bio Inc’s FY2018 Earnings (SPHS)
Sophiris Bio Inc (NASDAQ:SPHS) – Equities researchers at Piper Jaffray Companies lowered their FY2018 earnings per share (EPS) estimates for shares of Sophiris Bio in a research note issued on Tuesday, November 13th. Piper Jaffray Companies analyst C. Raymond now anticipates that the biopharmaceutical company will post earnings per share of ($0.54) for the year, down from their previous forecast of ($0.48). Piper Jaffray Companies also issued estimates for Sophiris Bio’s Q4 2018 earnings at ($0.13) EPS, Q1 2019 earnings at ($0.13) EPS, Q2 2019 earnings at ($0.16) EPS, Q3 2019 earnings at ($0.20) EPS, Q4 2019 earnings at ($0.21) EPS, FY2019 earnings at ($0.70) EPS, FY2020 earnings at ($0.76) EPS, FY2021 earnings at ($0.40) EPS and FY2022 earnings at ($0.28) EPS.
SPHS has been the topic of several other research reports. ValuEngine cut shares of Sophiris Bio from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th. Maxim Group set a $6.00 price objective on shares of Sophiris Bio and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright set a $4.00 price objective on shares of Sophiris Bio and gave the company a “buy” rating in a research report on Wednesday, August 15th.
Sophiris Bio (NASDAQ:SPHS) last released its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05).
A hedge fund recently raised its stake in Sophiris Bio stock. Northern Trust Corp increased its holdings in Sophiris Bio Inc (NASDAQ:SPHS) by 293.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,600 shares of the biopharmaceutical company’s stock after purchasing an additional 60,092 shares during the period. Northern Trust Corp owned approximately 0.27% of Sophiris Bio worth $226,000 at the end of the most recent quarter. 8.15% of the stock is currently owned by hedge funds and other institutional investors.
In other Sophiris Bio news, insider Randall E. Woods purchased 10,000 shares of Sophiris Bio stock in a transaction that occurred on Wednesday, September 19th. The shares were bought at an average price of $2.63 per share, for a total transaction of $26,300.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $26,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.50% 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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