Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2019 EPS estimates for Spring Bank Pharmaceuticals in a report released on Monday, April 29th. Piper Jaffray Companies analyst E. Tenthoff now expects that the company will post earnings of ($0.53) per share for the quarter, down from their prior forecast of ($0.49). Piper Jaffray Companies also issued estimates for Spring Bank Pharmaceuticals’ Q3 2019 earnings at ($0.55) EPS, Q4 2019 earnings at ($0.58) EPS, FY2019 earnings at ($1.98) EPS, Q1 2020 earnings at ($0.57) EPS, Q2 2020 earnings at ($0.64) EPS, Q3 2020 earnings at ($0.67) EPS, Q4 2020 earnings at ($0.71) EPS and FY2020 earnings at ($2.59) EPS.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.20.
Several other equities analysts have also commented on SBPH. Cantor Fitzgerald set a $29.00 target price on shares of Spring Bank Pharmaceuticals and gave the company a “buy” rating in a report on Friday, April 12th. Zacks Investment Research cut shares of Spring Bank Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Finally, Chardan Capital set a $25.00 target price on shares of Spring Bank Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.80.
Shares of SBPH stock opened at $7.41 on Wednesday. The company has a market cap of $115.08 million, a P/E ratio of -3.98 and a beta of 0.80. Spring Bank Pharmaceuticals has a 12 month low of $6.30 and a 12 month high of $15.00.
Several hedge funds have recently made changes to their positions in SBPH. JPMorgan Chase & Co. grew its stake in shares of Spring Bank Pharmaceuticals by 464.0% in the third quarter. JPMorgan Chase & Co. now owns 12,712 shares of the company’s stock worth $153,000 after acquiring an additional 10,458 shares during the period. BlackRock Inc. boosted its holdings in shares of Spring Bank Pharmaceuticals by 25.0% in the third quarter. BlackRock Inc. now owns 604,067 shares of the company’s stock worth $7,279,000 after buying an additional 120,809 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in shares of Spring Bank Pharmaceuticals in the third quarter worth approximately $856,000. Renaissance Technologies LLC boosted its holdings in shares of Spring Bank Pharmaceuticals by 85.8% in the third quarter. Renaissance Technologies LLC now owns 28,800 shares of the company’s stock worth $347,000 after buying an additional 13,300 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Spring Bank Pharmaceuticals by 34.8% in the third quarter. Vanguard Group Inc. now owns 549,186 shares of the company’s stock worth $6,618,000 after buying an additional 141,730 shares during the last quarter. Hedge funds and other institutional investors own 43.18% of the company’s stock.
In related news, insider Martin J. Driscoll purchased 10,000 shares of Spring Bank Pharmaceuticals stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average cost of $7.34 per share, for a total transaction of $73,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.60% 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).