Analysts at Piper Jaffray Cos. initiated coverage on Sophiris Bio Inc. (NASDAQ: SPHS) stock, starting the company at Overweight and a price target of $7.00. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $7.83, $3.59. Sophiris Bio Inc.stock has a 52-week high of $8.55.
Stock suffered moderate losses yesterday across the board on the heels of Monday’s gains.
The Dow Jones Industrial Average lost 49 points, or 0.26 percent, to close at 18,454.The S&P 500 shed 4 points, or 0.20 percent, to finish at 2,176.The Nasdaq lost 9 points, or 0.18 percent, to close at 5,223.
NYMEX crude oil futures lost 1.21 percent to $46.41 while Brent contracts shed 1.64 percent and were last trading at $48.45.
Usually, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.
Shares of Sophiris Bio Inc. (NASDAQ: SPHS) opened at $3.59 and traded in a range between, $3.15 and $3.59 yesterday, and last traded at $3.22, which represents a change of $ -0.15 over the previous closing price.
Sophiris Bio Inc. (NASDAQ: SPHS) currently has a market cap of 67.03M
The stocks average daily volume is 3,508,150 shares out of a total float 19,508,000 of and some 2,507,831 shares traded hands yesterday, 107 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind Sophiris Bio Inc. (NASDAQ: SPHS) now has a 50-day MA is $4.48 and 200-day MA is $2.32, and it has traded in a 52-week range between $0.67 – 8.55 and today’s last price is -62.34 percent off the 52 week high.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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