Maxim Group Cuts scPharmaceuticals (NASDAQ:SCPH) Price Target to $12.00

scPharmaceuticals (NASDAQ:SCPH) had its price target dropped by analysts at Maxim Group from $20.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 300.00% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of scPharmaceuticals in a report on Thursday.

scPharmaceuticals Price Performance

SCPH opened at $3.00 on Thursday. The company has a 50 day moving average of $3.27 and a two-hundred day moving average of $3.78. scPharmaceuticals has a 52-week low of $2.75 and a 52-week high of $5.65. The company has a quick ratio of 6.89, a current ratio of 8.08 and a debt-to-equity ratio of 1.66. The company has a market cap of $150.12 million, a P/E ratio of -1.58 and a beta of 0.40.

scPharmaceuticals (NASDAQ:SCPH) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The company had revenue of $12.15 million for the quarter, compared to analyst estimates of $12.08 million. scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. On average, analysts expect that scPharmaceuticals will post -1.53 earnings per share for the current year.

Hedge Funds Weigh In On scPharmaceuticals

A number of institutional investors have recently made changes to their positions in SCPH. BNP Paribas Financial Markets grew its holdings in scPharmaceuticals by 116.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,753 shares of the company’s stock worth $26,000 after acquiring an additional 3,101 shares in the last quarter. Bank of America Corp DE lifted its position in shares of scPharmaceuticals by 9.0% during the fourth quarter. Bank of America Corp DE now owns 44,037 shares of the company’s stock worth $156,000 after purchasing an additional 3,647 shares during the last quarter. Corebridge Financial Inc. grew its stake in scPharmaceuticals by 29.0% in the fourth quarter. Corebridge Financial Inc. now owns 19,586 shares of the company’s stock worth $69,000 after purchasing an additional 4,406 shares in the last quarter. Captrust Financial Advisors raised its stake in scPharmaceuticals by 32.2% during the third quarter. Captrust Financial Advisors now owns 18,539 shares of the company’s stock valued at $85,000 after buying an additional 4,513 shares in the last quarter. Finally, Balanced Rock Investment Advisors LLC raised its stake in scPharmaceuticals by 8.7% during the fourth quarter. Balanced Rock Investment Advisors LLC now owns 70,362 shares of the company’s stock valued at $249,000 after buying an additional 5,612 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.

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.