Jefferies Financial Group initiated coverage on shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $28.00 target price on the stock. Jefferies Financial Group also issued estimates for Spring Bank Pharmaceuticals’ Q3 2018 earnings at ($0.43) EPS, Q4 2018 earnings at ($0.46) EPS, FY2018 earnings at ($1.67) EPS, FY2019 earnings at ($1.94) EPS, FY2020 earnings at ($2.56) EPS, FY2021 earnings at ($0.33) EPS and FY2022 earnings at $2.98 EPS.
SBPH has been the subject of a number of other research reports. Piper Jaffray Companies began coverage on shares of Spring Bank Pharmaceuticals in a research note on Tuesday, August 14th. They set an overweight rating and a $25.00 price target for the company. Cantor Fitzgerald set a $35.00 price target on shares of Spring Bank Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $29.25.
Shares of NASDAQ:SBPH opened at $14.20 on Tuesday. The firm has a market cap of $158.88 million, a P/E ratio of -7.59 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 issued its quarterly earnings results on Thursday, August 2nd. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.22. Analysts forecast that Spring Bank Pharmaceuticals will post -1.89 earnings per share for the current year.
In other news, insider Martin J. Driscoll acquired 4,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $12.02 per share, for a total transaction of $48,080.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 15.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Morse Asset Management Inc raised its position in Spring Bank Pharmaceuticals by 7.1% during the 2nd quarter. Morse Asset Management Inc now owns 177,500 shares of the company’s stock worth $2,103,000 after buying an additional 11,725 shares during the last quarter. C WorldWide Group Holding A S raised its position 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 buying an additional 4,245 shares during the last quarter. Millennium Management LLC raised its position 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 buying an additional 41,372 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Spring Bank Pharmaceuticals during the 2nd quarter worth $446,000. Finally, Northern Trust Corp raised its position in Spring Bank Pharmaceuticals by 103.1% during the 2nd quarter. Northern Trust Corp now owns 37,915 shares of the company’s stock worth $450,000 after buying an additional 19,246 shares during the last quarter. Institutional investors own 33.82% of the company’s stock.
About Spring Bank Pharmaceuticals
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).
See Also: Earnings Per Share (EPS)
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