Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) Price Target Lowered to $30.00 at Chardan Capital
Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) had its target price reduced by analysts at Chardan Capital from $34.00 to $30.00 in a research report issued on Tuesday, August 1st, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 150.21% from the company’s previous close.
Several other analysts also recently commented on the company. Cantor Fitzgerald started coverage on Spring Bank Pharmaceuticals in a research note on Wednesday, July 19th. They set an “overweight” rating and a $29.00 price objective on the stock. ValuEngine raised Spring Bank Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, JMP Securities started coverage on Spring Bank Pharmaceuticals in a research note on Friday, May 19th. They set a “market perform” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.25.
Shares of Spring Bank Pharmaceuticals (NASDAQ SBPH) traded up 1.18% on Tuesday, hitting $11.99. The stock had a trading volume of 18,515 shares. The company’s market capitalization is $152.24 million. The firm has a 50 day moving average price of $14.08 and a 200 day moving average price of $11.19. Spring Bank Pharmaceuticals has a one year low of $6.31 and a one year high of $16.97.
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In other Spring Bank Pharmaceuticals news, Director David Arkowitz acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $12.24 per share, with a total value of $30,600.00. Following the purchase, the director now owns 17,086 shares of the company’s stock, valued at approximately $209,132.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kurt M. Eichler bought 76,923 shares of the stock in a transaction on Tuesday, June 27th. The shares were purchased at an average price of $13.00 per share, with a total value of $999,999.00. Following the acquisition, the director now owns 582,533 shares in the company, valued at approximately $7,572,929. The disclosure for this purchase can be found here. Insiders have purchased a total of 81,423 shares of company stock worth $1,055,319 in the last ninety days. 17.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SBPH. Parsons Capital Management Inc. RI boosted its position in Spring Bank Pharmaceuticals by 19.6% in the first quarter. Parsons Capital Management Inc. RI now owns 233,443 shares of the company’s stock worth $2,078,000 after buying an additional 38,278 shares during the period. AXA purchased a new position in Spring Bank Pharmaceuticals during the second quarter worth about $2,894,000. Sphera Funds Management LTD. purchased a new position in Spring Bank Pharmaceuticals during the second quarter worth about $2,370,000. Morse Asset Management Inc boosted its position in Spring Bank Pharmaceuticals by 156.9% in the second quarter. Morse Asset Management Inc now owns 63,700 shares of the company’s stock worth $862,000 after buying an additional 38,900 shares during the period. Finally, Vanguard Group Inc. purchased a new position in Spring Bank Pharmaceuticals during the second quarter worth about $794,000. Hedge funds and other institutional investors own 9.82% of the company’s stock.
About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.
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