Sophiris Bio (SPHS) Receives a Buy from Maxim Group

By Austin Angelo

In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Sophiris Bio (SPHSResearch Report), with a price target of $6. The company’s shares closed on Tuesday at $2.10, close to its 52-week low of $1.72.

McCarthy commented:

“Sophiris’ phase 2B study of topsalysin in localized prostate cancer is approaching its next key data point, effects of a second administration, expected in the next few weeks.”

According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -1.8% and a 34.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Sophiris Bio has an analyst consensus of Moderate Buy, with a price target consensus of $8.

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The company has a one-year high of $4.05 and a one-year low of $1.72. Currently, Sophiris Bio has an average volume of 238.7K.

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Sophiris Bio, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of products for the treatment of urological diseases. It is currently developing PRX302 as a treatment for the symptoms of benign prostatic hyperplasia which is a non cancerous enlargement of the prostate gland that causes a restriction in urine flow from the urethra resulting in lower urinary tract symptoms. The company was founded by James L. Heppell in May 2003 and is headquartered in La Jolla, CA.