Sophiris Bio (NASDAQ:SPHS) Shares Up 10.8%

Shares of Sophiris Bio Inc (NASDAQ:SPHS) shot up 10.8% during mid-day trading on Friday . The company traded as high as $1.04 and last traded at $1.03, 221,768 shares changed hands during trading. An increase of 53% from the average session volume of 145,172 shares. The stock had previously closed at $0.93.

A number of research firms have issued reports on SPHS. ValuEngine raised Sophiris Bio from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Maxim Group set a $6.00 price target on Sophiris Bio and gave the company a “buy” rating in a research report on Wednesday, June 19th.

The firm has a 50 day moving average price of $0.96. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.93.

Sophiris Bio (NASDAQ:SPHS) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. On average, research analysts forecast that Sophiris Bio Inc will post -0.36 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sophiris Bio stock. Hikari Power Ltd raised its stake in Sophiris Bio Inc (NASDAQ:SPHS) by 49.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 300,900 shares of the biopharmaceutical company’s stock after purchasing an additional 100,000 shares during the quarter. Hikari Power Ltd owned 1.00% of Sophiris Bio worth $254,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.27% of the company’s stock.

Sophiris Bio Company Profile (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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