Chardan Capital set a $25.00 price target on Spring Bank Pharmaceuticals (NASDAQ:SBPH) in a research note published on Friday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Separately, Zacks Investment Research cut shares of Spring Bank Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, March 14th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $23.80.
Shares of Spring Bank Pharmaceuticals stock opened at $8.82 on Friday. Spring Bank Pharmaceuticals has a 52-week low of $8.14 and a 52-week high of $15.00. The firm has a market capitalization of $156.34 million, a PE ratio of -4.72 and a beta of 0.80.
Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new stake in Spring Bank Pharmaceuticals during the 3rd quarter valued at $122,000. JPMorgan Chase & Co. boosted its position in Spring Bank Pharmaceuticals by 464.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,712 shares of the company’s stock valued at $153,000 after buying an additional 10,458 shares during the period. Pegasus Asset Management Inc. purchased a new stake in Spring Bank Pharmaceuticals during the 4th quarter valued at $195,000. Dimensional Fund Advisors LP purchased a new stake in Spring Bank Pharmaceuticals during the 4th quarter valued at $206,000. Finally, Fosun International Ltd purchased a new stake in Spring Bank Pharmaceuticals during the 4th quarter valued at $274,000. 43.18% of the stock is owned by institutional investors and hedge funds.
Spring Bank Pharmaceuticals Company Profile
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).
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