Spring Bank Pharmaceuticals Inc (SBPH) Given Consensus Recommendation of “Buy” by Analysts

Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) has earned an average rating of “Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.50.

Several brokerages recently commented on SBPH. Jefferies Financial Group began coverage on Spring Bank Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $28.00 target price on the stock. Cantor Fitzgerald set a $35.00 target price on Spring Bank Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 3rd. Finally, Piper Jaffray Companies began coverage on Spring Bank Pharmaceuticals in a report on Tuesday, August 14th. They set an “overweight” rating and a $25.00 target price on the stock.

In other Spring Bank Pharmaceuticals news, insider Martin J. Driscoll acquired 4,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $12.02 per share, for a total transaction of $48,080.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of SBPH. Millennium Management LLC increased its holdings in Spring Bank Pharmaceuticals by 82.3% during the 1st quarter. Millennium Management LLC now owns 91,663 shares of the company’s stock worth $1,410,000 after purchasing an additional 41,372 shares during the last quarter. C WorldWide Group Holding A S increased its holdings in Spring Bank Pharmaceuticals by 4.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock worth $1,085,000 after purchasing an additional 4,245 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Spring Bank Pharmaceuticals during the 2nd quarter worth approximately $446,000. Schwab Charles Investment Management Inc. purchased a new stake in Spring Bank Pharmaceuticals during the 2nd quarter worth approximately $293,000. Finally, BlackRock Inc. increased its holdings in Spring Bank Pharmaceuticals by 1,498.8% during the 2nd quarter. BlackRock Inc. now owns 483,258 shares of the company’s stock worth $5,727,000 after purchasing an additional 453,032 shares during the last quarter. Institutional investors own 33.82% of the company’s stock.

Shares of NASDAQ SBPH traded up $0.46 during midday trading on Tuesday, hitting $14.36. The stock had a trading volume of 2,031 shares, compared to its average volume of 45,754. The firm has a market capitalization of $158.88 million, a P/E ratio of -7.74 and a beta of 0.18. Spring Bank Pharmaceuticals has a 1-year low of $10.63 and a 1-year high of $18.93.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its quarterly earnings data on Thursday, August 2nd. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.22. On average, equities analysts expect that Spring Bank Pharmaceuticals will post -1.89 earnings per share for the current fiscal year.

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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Analyst Recommendations for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

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