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

Zacks Investment Research lowered shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) from a buy rating to a hold rating in a 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. “

Several other equities analysts have also weighed in on SBPH. Chardan Capital set a $25.00 target price on shares of Spring Bank Pharmaceuticals and gave the company a buy rating in a report on Friday, April 12th. 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. Finally, ValuEngine lowered shares of Spring Bank Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $23.80.

Shares of SBPH opened at $6.92 on Wednesday. Spring Bank Pharmaceuticals has a fifty-two week low of $6.30 and a fifty-two week high of $15.00.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last posted its earnings results on Monday, April 29th. The company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.20. Equities research analysts expect that Spring Bank Pharmaceuticals will post -2.26 EPS for the current year.

In other Spring Bank Pharmaceuticals news, insider Martin J. Driscoll bought 10,000 shares of Spring Bank Pharmaceuticals stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average price of $7.34 per share, for a total transaction of $73,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Spring Bank Pharmaceuticals by 34.8% during the 3rd 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 period. BlackRock Inc. increased its stake in Spring Bank Pharmaceuticals by 11.8% during the 4th quarter. BlackRock Inc. now owns 675,333 shares of the company’s stock worth $7,017,000 after buying an additional 71,266 shares during the period. Vanguard Group Inc increased its stake in Spring Bank Pharmaceuticals by 34.8% during the 3rd 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 period. Fosun International Ltd purchased a new stake in Spring Bank Pharmaceuticals during the 4th quarter worth $274,000. Finally, JPMorgan Chase & Co. increased its stake in Spring Bank Pharmaceuticals by 464.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,712 shares of the company’s stock worth $153,000 after buying an additional 10,458 shares during the period. 43.08% of the stock is currently owned by hedge funds and other institutional investors.

About Spring Bank Pharmaceuticals

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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