Millennium Management LLC trimmed its holdings in Sophiris Bio Inc (NASDAQ:SPHS) by 47.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 104,627 shares of the biopharmaceutical company’s stock after selling 95,078 shares during the quarter. Millennium Management LLC’s holdings in Sophiris Bio were worth $210,000 at the end of the most recent quarter.
Separately, Goldman Sachs Group Inc. purchased a new position in Sophiris Bio in the fourth quarter worth approximately $312,000. 5.47% of the stock is currently owned by institutional investors and hedge funds.
SPHS has been the subject of several research analyst reports. Maxim Group raised their price target on Sophiris Bio to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, May 15th. ValuEngine lowered Sophiris Bio from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, HC Wainwright set a $4.00 price target on Sophiris Bio and gave the stock a “buy” rating in a research report on Wednesday, August 15th.
SPHS opened at $2.58 on Wednesday. Sophiris Bio Inc has a 52 week low of $1.80 and a 52 week high of $4.05. The company has a debt-to-equity ratio of -3.97, a quick ratio of 3.57 and a current ratio of 3.57.
Sophiris Bio (NASDAQ:SPHS) last released its quarterly earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). sell-side analysts forecast that Sophiris Bio Inc will post -0.51 EPS for the current year.
Sophiris Bio Profile
Sophiris Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development of products for the treatment of urological diseases. The company's primary product candidate is PRX302, which is in Phase III clinical trial for treatment of lower urinary tract symptoms of benign prostatic hyperplasia (BPH), as well as for the treatment of localized low to intermediate risk prostate cancer.
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