SBPH has been the topic of several other reports. Jefferies Financial Group initiated coverage on Spring Bank Pharmaceuticals in a research report on Tuesday, October 9th. They set a buy rating and a $28.00 price target on the stock. Chardan Capital restated a buy rating on shares of Spring Bank Pharmaceuticals in a research report on Sunday, October 28th. Finally, Piper Jaffray Companies initiated coverage on Spring Bank Pharmaceuticals in a research report on Tuesday, August 14th. They set an overweight rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $33.00.
Shares of SBPH stock traded down $0.14 during trading hours on Friday, reaching $10.80. The company’s stock had a trading volume of 19,325 shares, compared to its average volume of 36,499. Spring Bank Pharmaceuticals has a one year low of $8.88 and a one year high of $15.95.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its quarterly earnings results on Thursday, October 25th. The company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.01. Research analysts forecast that Spring Bank Pharmaceuticals will post -1.84 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBPH. Jennison Associates LLC bought a new stake in shares of Spring Bank Pharmaceuticals during the third quarter valued at approximately $8,210,000. BlackRock Inc. boosted its position in shares of Spring Bank Pharmaceuticals by 1,498.8% during the second quarter. BlackRock Inc. now owns 483,258 shares of the company’s stock valued at $5,727,000 after purchasing an additional 453,032 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Spring Bank Pharmaceuticals by 64.3% during the third quarter. Baker BROS. Advisors LP now owns 613,144 shares of the company’s stock valued at $7,388,000 after buying an additional 240,000 shares during the last quarter. Sofinnova Ventures Inc purchased a new position in Spring Bank Pharmaceuticals during the third quarter valued at $2,285,000. Finally, Vanguard Group Inc. raised its stake in Spring Bank Pharmaceuticals by 34.8% during the third quarter. Vanguard Group Inc. now owns 549,186 shares of the company’s stock valued at $6,618,000 after buying an additional 141,730 shares during the last quarter. Institutional investors own 42.84% of the company’s stock.
About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).
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