Sophiris Bio Inc. (SPHS) Trading Up 7.5%
Sophiris Bio Inc. (NASDAQ:SPHS) shares were up 7.5% during trading on Friday . The stock traded as high as $3.30 and last traded at $3.16, with a volume of 2,846,905 shares. The stock had previously closed at $2.94.
Several research analysts have recently commented on SPHS shares. Maxim Group lifted their target price on Sophiris Bio from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Echelon Wealth Partners restated a “buy” rating and set a $5.00 price objective on shares of Sophiris Bio in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. assumed coverage on Sophiris Bio in a research report on Tuesday, August 30th. They set an “overweight” rating and a $7.00 price objective for the company.
The stock’s 50-day moving average price is $4.55 and its 200-day moving average price is $2.32. The company’s market capitalization is $64.74 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).