Sophiris Bio (NASDAQ:SPHS) Rating Increased to Hold at ValuEngine

Sophiris Bio (NASDAQ:SPHS) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

Separately, HC Wainwright set a $2.80 price objective on Sophiris Bio and gave the stock a “buy” rating in a research note on Monday, October 21st.

Shares of Sophiris Bio stock opened at $0.37 on Tuesday. The stock has a market capitalization of $12.79 million, a price-to-earnings ratio of -0.71 and a beta of 2.80. Sophiris Bio has a twelve month low of $0.34 and a twelve month high of $2.19. The business’s 50 day simple moving average is $0.47 and its 200-day simple moving average is $0.74.

An institutional investor recently raised its position in Sophiris Bio stock. Hikari Power Ltd boosted its position in Sophiris Bio Inc (NASDAQ:SPHS) by 49.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,900 shares of the biopharmaceutical company’s stock after purchasing an additional 100,000 shares during the quarter. Hikari Power Ltd owned about 1.00% of Sophiris Bio worth $254,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.72% 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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