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.

Analyst Recommendations for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

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