Sophiris Bio (NASDAQ:SPHS) Stock Passes Above 50-Day Moving Average of $0.90

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Sophiris Bio Inc (NASDAQ:SPHS)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.90 and traded as high as $0.74. Sophiris Bio shares last traded at $0.71, with a volume of 6,401 shares traded.

SPHS has been the subject of several research analyst reports. Maxim Group set a $6.00 price target on Sophiris Bio and gave the stock a “buy” rating in a research note on Wednesday, June 19th. ValuEngine upgraded Sophiris Bio from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The firm has a market capitalization of $22.36 million, a P/E ratio of -1.36 and a beta of 2.92. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day moving average price of $0.89 and a two-hundred day moving average price of $0.92.

Sophiris Bio (NASDAQ:SPHS) last issued its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. Equities research analysts forecast that Sophiris Bio Inc will post -0.31 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sophiris Bio stock. Hikari Power Ltd lifted its holdings in shares of Sophiris Bio Inc (NASDAQ:SPHS) by 49.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,900 shares of the biopharmaceutical company’s stock after buying an additional 100,000 shares during the period. Hikari Power Ltd owned about 1.00% of Sophiris Bio worth $254,000 at the end of the most recent quarter. Institutional investors own 7.70% of the company’s stock.

About Sophiris Bio (NASDAQ:SPHS)

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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