Maxim Group Reaffirms “Buy” Rating for Sophiris Bio (SPHS)

Maxim Group restated their buy rating on shares of Sophiris Bio (NASDAQ:SPHS) in a report issued on Wednesday morning, MarketBeat.com reports. They currently have a $5.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $6.00.

Other research analysts have also issued reports about the stock. HC Wainwright set a $6.00 target price on shares of Sophiris Bio and gave the stock a buy rating in a research report on Wednesday, January 17th. ValuEngine upgraded shares of Sophiris Bio from a strong sell rating to a sell rating in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $6.00.

Sophiris Bio (NASDAQ:SPHS) opened at $2.09 on Wednesday. Sophiris Bio has a one year low of $1.80 and a one year high of $2.95. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.60. The stock has a market cap of $64.74, a PE ratio of -11.61 and a beta of 1.25.

A number of institutional investors and hedge funds have recently modified their holdings of SPHS. Millennium Management LLC acquired a new position in Sophiris Bio during the fourth quarter worth about $453,000. Goldman Sachs Group Inc. acquired a new position in Sophiris Bio during the fourth quarter worth about $312,000. Virtu Financial LLC grew its position in Sophiris Bio by 389.7% during the fourth quarter. Virtu Financial LLC now owns 169,790 shares of the biopharmaceutical company’s stock worth $385,000 after buying an additional 135,119 shares during the period. Finally, Vanguard Group Inc. grew its position in Sophiris Bio by 1.0% during the second quarter. Vanguard Group Inc. now owns 731,437 shares of the biopharmaceutical company’s stock worth $1,609,000 after buying an additional 7,600 shares during the period. Institutional investors own 5.52% of the company’s stock.

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Sophiris Bio Company Profile

Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).

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