Sophiris Bio (NASDAQ:SPHS) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Sophiris Bio (NASDAQ:SPHS) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Separately, HC Wainwright set a $2.80 price objective on Sophiris Bio and gave the company a buy rating in a research note on Monday, October 21st.

SPHS opened at $0.37 on Tuesday. The firm has a market capitalization of $12.92 million, a P/E ratio of -0.71 and a beta of 2.80. Sophiris Bio has a one year low of $0.34 and a one year high of $2.19. The company has a fifty day moving average price of $0.48 and a 200-day moving average price of $0.74.

An institutional investor recently raised its position in Sophiris Bio stock. Hikari Power Ltd increased its stake in Sophiris Bio Inc (NASDAQ:SPHS) by 49.8% during the 2nd quarter, according to the company in its most recent disclosure 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 period. Hikari Power Ltd owned approximately 1.00% of Sophiris Bio worth $254,000 as of its most recent SEC filing. Institutional investors and hedge funds own 11.72% of the company’s stock.

Sophiris Bio Company Profile

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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