Spring Bank Pharmaceuticals (NASDAQ:SBPH) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) from a hold rating to a buy rating in a research report released on Friday, Zacks.com reports. They currently have $4.75 price target on the stock.

According to Zacks, “Spring Bank Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of therapeutics using its proprietary small molecule nucleic acid hybrid chemistry platform. The company is developing SB 9200, for the treatment of viral diseases, including hepatitis B virus. Spring Bank Pharmaceuticals, Inc. is based in Hopkinton, United States. “

A number of other equities research analysts have also weighed in on the company. Piper Jaffray Companies lowered their price objective on Spring Bank Pharmaceuticals from $25.00 to $10.00 and set an overweight rating on the stock in a report on Monday, July 1st. Chardan Capital set a $25.00 price objective on Spring Bank Pharmaceuticals and gave the company a buy rating in a report on Friday, April 12th. ValuEngine raised Spring Bank Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 1st. Cantor Fitzgerald set a $29.00 price target on Spring Bank Pharmaceuticals and gave the stock a buy rating in a research note on Friday, April 12th. Finally, Dawson James reissued a buy rating on shares of Spring Bank Pharmaceuticals in a research note on Monday, May 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $18.79.

Shares of SBPH opened at $3.99 on Friday. Spring Bank Pharmaceuticals has a twelve month low of $3.58 and a twelve month high of $15.00. The firm has a 50 day simple moving average of $4.54. The stock has a market cap of $67.32 million, a price-to-earnings ratio of -2.13 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.84 and a quick ratio of 9.84.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.28. On average, equities analysts predict that Spring Bank Pharmaceuticals will post -2.37 EPS for the current fiscal year.

In related news, insider Martin J. Driscoll acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $6.03 per share, for a total transaction of $60,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jonathan Freve acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average price of $5.40 per share, with a total value of $27,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 32,000 shares of company stock worth $169,530 in the last three months. Corporate insiders own 15.60% of the company’s stock.

Several institutional investors have recently modified their holdings of SBPH. Acadian Asset Management LLC acquired a new position in shares of Spring Bank Pharmaceuticals during the 2nd quarter worth approximately $29,000. BNP Paribas Arbitrage SA raised its holdings in Spring Bank Pharmaceuticals by 1,395.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,946 shares of the company’s stock valued at $31,000 after acquiring an additional 2,749 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Spring Bank Pharmaceuticals during the 2nd quarter worth $44,000. JPMorgan Chase & Co. increased its holdings in shares of Spring Bank Pharmaceuticals by 35.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,064 shares of the company’s stock worth $98,000 after buying an additional 6,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Spring Bank Pharmaceuticals during the 4th quarter worth $206,000. Hedge funds and other institutional investors own 42.99% of the company’s stock.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).

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