Spring Bank Pharmaceuticals (NASDAQ:SBPH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Spring Bank Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of therapeutics using its proprietary small molecule nucleic acid hybrid chemistry platform. The company is developing SB 9200, for the treatment of viral diseases, including hepatitis B virus. Spring Bank Pharmaceuticals, Inc. is based in Hopkinton, United States. “

A number of other research firms also recently commented on SBPH. Piper Jaffray Companies reduced their target price on Spring Bank Pharmaceuticals from $25.00 to $10.00 and set an overweight rating for the company in a report on Monday, July 1st. B. Riley reduced their target price on Spring Bank Pharmaceuticals from $24.00 to $16.00 and set a buy rating for the company in a report on Monday, August 5th. ValuEngine raised Spring Bank Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Dawson James reissued a buy rating on shares of Spring Bank Pharmaceuticals in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $18.79.



Spring Bank Pharmaceuticals stock traded down $0.02 during midday trading on Wednesday, reaching $4.09. The company’s stock had a trading volume of 705 shares, compared to its average volume of 77,053. Spring Bank Pharmaceuticals has a fifty-two week low of $3.58 and a fifty-two week high of $15.00. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 0.06. The company’s 50 day simple moving average is $4.53. The company has a market capitalization of $65.67 million, a price-to-earnings ratio of -2.22 and a beta of 0.39.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its earnings results on Wednesday, July 31st. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.28. As a group, equities analysts predict that Spring Bank Pharmaceuticals will post -2.37 EPS for the current year.

In other news, Director Scott Andrew Smith purchased 12,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $4.09 per share, for a total transaction of $49,080.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin J. Driscoll purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $6.63 per share, with a total value of $33,150.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 32,000 shares of company stock valued at $169,530. Company insiders own 15.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of Spring Bank Pharmaceuticals by 1,395.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,946 shares of the company’s stock valued at $31,000 after buying an additional 2,749 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Spring Bank Pharmaceuticals in the second quarter valued at $29,000. Arcadia Investment Management Corp MI purchased a new position in shares of Spring Bank Pharmaceuticals in the second quarter valued at $44,000. Jane Street Group LLC purchased a new position in shares of Spring Bank Pharmaceuticals in the second quarter valued at $59,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Spring Bank Pharmaceuticals in the fourth quarter valued at $206,000. Institutional investors and hedge funds own 38.55% of the company’s stock.

Spring Bank Pharmaceuticals Company Profile

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).

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