Spring Bank Pharmaceuticals Inc (SBPH) Expected to Post Earnings of -$0.57 Per Share

Equities analysts predict that Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) will post earnings per share of ($0.57) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Spring Bank Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.54) and the lowest estimate coming in at ($0.60). Spring Bank Pharmaceuticals reported earnings per share of ($0.39) during the same quarter last year, which would indicate a negative year over year growth rate of 46.2%. The company is expected to announce its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Spring Bank Pharmaceuticals will report full-year earnings of ($1.84) per share for the current year, with EPS estimates ranging from ($1.89) to ($1.73). For the next fiscal year, analysts forecast that the firm will report earnings of ($2.71) per share, with EPS estimates ranging from ($3.83) to ($2.16). Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Spring Bank Pharmaceuticals.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last posted its earnings results on Thursday, August 2nd. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.22.

SBPH has been the subject of several recent analyst reports. Piper Jaffray Companies initiated coverage on shares of Spring Bank Pharmaceuticals in a research note on Tuesday, August 14th. They set an “overweight” rating and a $25.00 price objective for the company. Cantor Fitzgerald set a $35.00 price objective on shares of Spring Bank Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.00.

NASDAQ SBPH traded down $0.08 on Thursday, hitting $12.15. 76,200 shares of the stock were exchanged, compared to its average volume of 44,858. The firm has a market capitalization of $164.15 million, a price-to-earnings ratio of -6.59 and a beta of 0.04. Spring Bank Pharmaceuticals has a 52-week low of $10.81 and a 52-week high of $18.93.

In other news, insider Martin J. Driscoll acquired 4,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $12.02 per share, with a total value of $48,080.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BVF Inc. IL boosted its stake in Spring Bank Pharmaceuticals by 1.1% during the first quarter. BVF Inc. IL now owns 832,247 shares of the company’s stock worth $12,800,000 after buying an additional 8,773 shares during the period. BlackRock Inc. boosted its stake in Spring Bank Pharmaceuticals by 1,498.8% during the second quarter. BlackRock Inc. now owns 483,258 shares of the company’s stock worth $5,727,000 after buying an additional 453,032 shares during the period. Morse Asset Management Inc boosted its stake in shares of Spring Bank Pharmaceuticals by 7.1% during the second quarter. Morse Asset Management Inc now owns 177,500 shares of the company’s stock valued at $2,103,000 after purchasing an additional 11,725 shares during the period. Millennium Management LLC boosted its stake in shares of Spring Bank Pharmaceuticals by 82.3% during the first quarter. Millennium Management LLC now owns 91,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 41,372 shares during the period. Finally, C WorldWide Group Holding A S boosted its stake in shares of Spring Bank Pharmaceuticals by 4.9% during the second quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock valued at $1,085,000 after purchasing an additional 4,245 shares during the period. 33.82% of the stock is owned by institutional investors.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).

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