Sophiris Bio (SPHS) Reaches New 1-Year Low at $0.72

Sophiris Bio Inc (NASDAQ:SPHS) shares reached a new 52-week low during trading on Thursday . The company traded as low as $0.72 and last traded at $0.77, with a volume of 659 shares trading hands. The stock had previously closed at $0.78.

A number of research analysts recently commented on SPHS shares. HC Wainwright reduced their target price on Sophiris Bio from $10.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Piper Jaffray Companies reduced their target price on Sophiris Bio to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. Finally, Maxim Group set a $6.00 target price on Sophiris Bio and gave the company a “buy” rating in a research note on Friday, May 10th.

The company has a market cap of $22.06 million, a P/E ratio of -1.44 and a beta of 2.81. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.00 and a quick ratio of 2.65.

Sophiris Bio (NASDAQ:SPHS) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. Equities analysts anticipate that Sophiris Bio Inc will post -0.38 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPHS. Virtu Financial LLC bought a new position in Sophiris Bio in the fourth quarter valued at $30,000. Hikari Power Ltd increased its stake in Sophiris Bio by 18.2% in the fourth quarter. Hikari Power Ltd now owns 200,900 shares of the biopharmaceutical company’s stock valued at $167,000 after acquiring an additional 30,900 shares during the last quarter. Geode Capital Management LLC increased its stake in Sophiris Bio by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 243,523 shares of the biopharmaceutical company’s stock valued at $202,000 after acquiring an additional 31,579 shares during the last quarter. Finally, Sabby Management LLC increased its stake in Sophiris Bio by 179.3% in the first quarter. Sabby Management LLC now owns 33,643 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 21,597 shares during the last quarter. 8.53% of the stock is currently owned by institutional investors and hedge funds.

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About Sophiris Bio (NASDAQ:SPHS)

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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