Roth Capital Starts Sophiris Bio (SPHS) at Buy, $8 PT
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Roth Capital initiates coverage on Sophiris Bio (NASDAQ: SPHS) with a Buy rating and a price target of $8.00.
Analyst Joseph Pantginis commented, "We are initiating coverage of Sophiris with a Buy rating and $8 price target. The company's lead asset, PRX302 has the potential to address the large markets of benign prostate hyperplasia (BPH) with a positive Phase III in hand and localized prostate cancer."
He added, "We see both BPH and PCa as indications with significant unmet clinical needs, and view PRX302 as a complement to current surgical and non-surgical approaches. With a product now in late-stage clinical development and positive data in hand, we urge investors to consider the investment case ahead of upcoming catalysts."
Shares of Sophiris Bio closed at $2.85 yesterday.
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