HC Wainwright Reiterates “Buy” Rating for scPharmaceuticals (NASDAQ:SCPH)

HC Wainwright reaffirmed their buy rating on shares of scPharmaceuticals (NASDAQ:SCPH) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $18.00 price target on the stock.

Separately, Craig Hallum lowered their price objective on shares of scPharmaceuticals from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday.

scPharmaceuticals Price Performance

SCPH stock traded down $0.27 during trading on Thursday, reaching $3.09. 658,346 shares of the company were exchanged, compared to its average volume of 266,770. The stock’s 50 day moving average price is $4.53 and its 200 day moving average price is $4.50. The company has a market cap of $154.59 million, a P/E ratio of -1.63 and a beta of 0.15. The company has a debt-to-equity ratio of 4.32, a quick ratio of 3.66 and a current ratio of 4.84. scPharmaceuticals has a 52-week low of $3.08 and a 52-week high of $6.71.

scPharmaceuticals (NASDAQ:SCPH) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.44) EPS for the quarter, meeting the consensus estimate of ($0.44). The business had revenue of $8.05 million for the quarter, compared to analyst estimates of $8.04 million. scPharmaceuticals had a negative net margin of 264.60% and a negative return on equity of 263.11%. As a group, analysts predict that scPharmaceuticals will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On scPharmaceuticals

A number of large investors have recently bought and sold shares of SCPH. Suvretta Capital Management LLC bought a new stake in shares of scPharmaceuticals in the third quarter valued at about $9,343,000. Rubric Capital Management LP increased its holdings in shares of scPharmaceuticals by 35.5% during the third quarter. Rubric Capital Management LP now owns 4,775,000 shares of the company’s stock worth $21,774,000 after buying an additional 1,250,000 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of scPharmaceuticals by 51.8% during the second quarter. King Luther Capital Management Corp now owns 2,205,140 shares of the company’s stock worth $9,592,000 after buying an additional 752,005 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in shares of scPharmaceuticals by 84.7% during the third quarter. Stonepine Capital Management LLC now owns 778,874 shares of the company’s stock worth $3,552,000 after buying an additional 357,171 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of scPharmaceuticals during the second quarter valued at approximately $1,544,000. 89.52% of the stock is currently owned by institutional investors.

About scPharmaceuticals

scPharmaceuticals Inc, a pharmaceutical company, engages in the development and commercialization of various pharmaceutical products. Its lead product candidate is FUROSCIX that consists of formulation of furosemide, which is delivered through an on-body infusor for treatment of congestion due to fluid overload in adults with chronic heart failure and kidney disease, as well as consists of subcutaneous loop diuretic that delivers IV equivalent diuresis at home; and FUROSCIX On-Body Infusor, a drug-device combination product consisting of FUROSCIX.