Zacks Investment Research upgraded shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) from a sell rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.
According to Zacks, “Spring Bank Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of therapeutics using its proprietary small molecule nucleic acid hybrid chemistry platform. The company is developing SB 9200, for the treatment of viral diseases, including hepatitis B virus. Spring Bank Pharmaceuticals, Inc. is based in Hopkinton, United States. “
Several other equities analysts also recently issued reports on SBPH. ValuEngine downgraded shares of Spring Bank Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, March 31st. B. Riley reiterated a hold rating and set a $2.00 target price on shares of Spring Bank Pharmaceuticals in a research note on Friday, April 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $1.68.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.29). On average, equities analysts forecast that Spring Bank Pharmaceuticals will post -1.57 EPS for the current year.
A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in Spring Bank Pharmaceuticals by 336.2% in the first quarter. Acadian Asset Management LLC now owns 33,869 shares of the company’s stock valued at $31,000 after buying an additional 26,105 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Spring Bank Pharmaceuticals by 199.0% in the first quarter. Bank of New York Mellon Corp now owns 45,139 shares of the company’s stock valued at $42,000 after buying an additional 30,043 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Spring Bank Pharmaceuticals by 190.8% in the first quarter. JPMorgan Chase & Co. now owns 49,492 shares of the company’s stock valued at $46,000 after buying an additional 32,471 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Spring Bank Pharmaceuticals by 34.1% in the fourth quarter. Renaissance Technologies LLC now owns 200,930 shares of the company’s stock valued at $317,000 after buying an additional 51,130 shares in the last quarter. Finally, Exane Derivatives purchased a new position in Spring Bank Pharmaceuticals in the first quarter valued at about $76,000. 17.43% of the stock is owned by institutional investors.
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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