Sophiris Bio Inc (NASDAQ:SPHS) shares traded up 13.4% on Thursday . The company traded as high as $1.20 and last traded at $1.10. 532,623 shares were traded during mid-day trading, an increase of 273% from the average session volume of 142,676 shares. The stock had previously closed at $0.97.

A number of research analysts have recently weighed in on the company. ValuEngine upgraded Sophiris Bio from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Maxim Group set a $6.00 price target on Sophiris Bio and gave the company a “buy” rating in a research report on Thursday, December 6th. HC Wainwright set a $10.00 price target on Sophiris Bio and gave the company a “buy” rating in a research report on Wednesday, November 14th. Finally, Piper Jaffray Companies dropped their price target on Sophiris Bio to $5.00 and set an “overweight” rating for the company in a research report on Wednesday.

The stock has a market cap of $28.85 million, a price-to-earnings ratio of -2.75 and a beta of 2.94.

Several hedge funds have recently made changes to their positions in SPHS. Virtu Financial LLC purchased a new stake in shares of Sophiris Bio during the 4th quarter valued at about $30,000. Hikari Power Ltd raised its holdings in shares of Sophiris Bio by 18.2% during the 4th quarter. Hikari Power Ltd now owns 200,900 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 30,900 shares during the period. Geode Capital Management LLC raised its holdings in shares of Sophiris Bio by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 243,523 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 31,579 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Sophiris Bio by 293.0% during the 2nd quarter. Northern Trust Corp now owns 80,600 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 60,092 shares during the period. Institutional investors and hedge funds own 8.60% of the company’s stock.

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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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