Sophiris Bio Inc. (NASDAQ:SPHS) shares were down 4.2% on Tuesday . The company traded as low as $3.15 and last traded at $3.23, with a volume of 2,219,299 shares changing hands. The stock had previously closed at $3.37.

A number of research analysts recently weighed in on SPHS shares. Maxim Group raised their price objective on Sophiris Bio from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Echelon Wealth Partners reaffirmed a “buy” rating and issued a $5.00 price target on shares of Sophiris Bio in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. initiated coverage on Sophiris Bio in a research report on Tuesday. They issued an “overweight” rating and a $7.00 price target on the stock.

The company has a 50-day moving average of $4.48 and a 200 day moving average of $2.32. The firm’s market cap is $67.03 million.

Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).

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