Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) Receives Average Recommendation of “Buy” from Brokerages

Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) has earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.60.

Several equities analysts recently issued reports on SBPH shares. ValuEngine raised shares of Spring Bank Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Dawson James reissued a “buy” rating on shares of Spring Bank Pharmaceuticals in a research note on Monday, May 13th. Zacks Investment Research downgraded shares of Spring Bank Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. B. Riley reduced their price objective on shares of Spring Bank Pharmaceuticals from $24.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Piper Jaffray Companies reduced their price objective on shares of Spring Bank Pharmaceuticals from $25.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st.

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

A number of hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new stake in Spring Bank Pharmaceuticals in the second quarter valued at about $91,000. Jane Street Group LLC purchased a new stake in Spring Bank Pharmaceuticals in the 2nd quarter worth approximately $59,000. Morgan Stanley lifted its holdings in Spring Bank Pharmaceuticals by 102.7% in the 2nd quarter. Morgan Stanley now owns 44,963 shares of the company’s stock worth $166,000 after buying an additional 22,776 shares during the period. Paloma Partners Management Co purchased a new stake in Spring Bank Pharmaceuticals in the 2nd quarter worth approximately $230,000. Finally, AXA lifted its holdings in Spring Bank Pharmaceuticals by 2.2% in the 2nd quarter. AXA now owns 378,845 shares of the company’s stock worth $1,398,000 after buying an additional 8,224 shares during the period. 38.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SBPH traded up $0.01 on Friday, hitting $3.90. The company’s stock had a trading volume of 14,600 shares, compared to its average volume of 58,236. Spring Bank Pharmaceuticals has a 12-month low of $3.58 and a 12-month high of $15.00. The company has a market capitalization of $64.69 million, a price-to-earnings ratio of -2.09 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. The stock has a 50 day moving average of $4.54 and a 200-day moving average of $7.28.

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

Spring Bank Pharmaceuticals Company Profile

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).

Recommended Story: How much can an individual set aside as a catch-up contribution?

Analyst Recommendations for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

Receive News & Ratings for Spring Bank Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spring Bank Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.