Shares of Sophiris Bio Inc. (NASDAQ:SPHS) shot up 11.2% during mid-day trading on Thursday . The company traded as high as $2.40 and last traded at $2.38, with a volume of 1,347,869 shares traded. The stock had previously closed at $2.14.

A number of brokerages have issued reports on SPHS. Echelon Wealth Partners reiterated a “buy” rating and set a $5.00 price target on shares of Sophiris Bio in a research note on Friday, June 10th. Maxim Group reissued a “buy” rating and set a $4.00 price objective on shares of Sophiris Bio in a research report on Friday, June 10th.

The company has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.60. The company’s market capitalization is $51.83 million.

Sophiris Bio (NASDAQ:SPHS) last posted its quarterly earnings data on Monday, May 16th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. On average, analysts predict that Sophiris Bio Inc. will post ($0.73) EPS for the current year.

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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