Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) – B. Riley boosted their FY2019 EPS estimates for shares of Spring Bank Pharmaceuticals in a report issued on Monday, October 29th. B. Riley analyst M. Kumar now anticipates that the company will post earnings per share of ($2.67) for the year, up from their previous forecast of ($3.83). B. Riley also issued estimates for Spring Bank Pharmaceuticals’ FY2020 earnings at ($4.50) EPS, FY2021 earnings at $0.08 EPS and FY2022 earnings at $0.81 EPS.
A number of other analysts have also issued reports on SBPH. Chardan Capital reiterated a “buy” rating on shares of Spring Bank Pharmaceuticals in a research note on Sunday, October 28th. Cantor Fitzgerald set a $34.00 price objective on shares of Spring Bank Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 11th. Jefferies Financial Group began coverage on shares of Spring Bank Pharmaceuticals in a research note on Tuesday, October 9th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Piper Jaffray Companies began coverage on shares of Spring Bank Pharmaceuticals in a research note on Tuesday, August 14th. They set an “overweight” rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.25.
SBPH opened at $9.53 on Wednesday. The company has a market cap of $155.96 million, a PE ratio of -5.10 and a beta of 0.16. Spring Bank Pharmaceuticals has a 52-week low of $8.88 and a 52-week high of $18.93.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.22.
Several hedge funds have recently added to or reduced their stakes in SBPH. Millennium Management LLC grew its position in shares of Spring Bank Pharmaceuticals by 82.3% during the first quarter. Millennium Management LLC now owns 91,663 shares of the company’s stock worth $1,410,000 after buying an additional 41,372 shares in the last quarter. C WorldWide Group Holding A S grew its position in shares of Spring Bank Pharmaceuticals by 4.9% during the second quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock worth $1,085,000 after buying an additional 4,245 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Spring Bank Pharmaceuticals during the second quarter worth approximately $446,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Spring Bank Pharmaceuticals during the second quarter worth approximately $293,000. Finally, BlackRock Inc. grew 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 worth $5,727,000 after buying an additional 453,032 shares in the last quarter. 33.82% of the stock is owned by institutional investors and hedge funds.
In related news, insider Martin J. Driscoll purchased 4,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average price of $12.02 per share, with a total value of $48,080.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.60% of the stock is currently owned by company insiders.
Spring Bank Pharmaceuticals Company Profile
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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