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

scPharmaceuticals (NASDAQ:SCPH)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 492.11% from the company’s previous close.

scPharmaceuticals Price Performance

Shares of SCPH opened at $3.04 on Thursday. The company has a current ratio of 8.08, a quick ratio of 6.89 and a debt-to-equity ratio of 1.66. scPharmaceuticals has a 1 year low of $2.75 and a 1 year high of $5.70. The stock has a market cap of $152.12 million, a P/E ratio of -1.60 and a beta of 0.40. The stock’s 50-day moving average price is $3.30 and its two-hundred day moving average price is $3.81.

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

Institutional Investors Weigh In On scPharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Rubric Capital Management LP raised its position 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 purchasing an additional 1,250,000 shares during the period. AIGH Capital Management LLC raised its position in shares of scPharmaceuticals by 1.2% during the fourth quarter. AIGH Capital Management LLC now owns 4,174,367 shares of the company’s stock worth $14,777,000 after purchasing an additional 50,000 shares during the period. King Luther Capital Management Corp raised its position in shares of scPharmaceuticals by 28.4% during the fourth quarter. King Luther Capital Management Corp now owns 2,857,910 shares of the company’s stock worth $10,117,000 after purchasing an additional 632,120 shares during the period. Suvretta Capital Management LLC acquired a new stake in shares of scPharmaceuticals during the third quarter worth about $9,343,000. Finally, Thrivent Financial for Lutherans raised its position in shares of scPharmaceuticals by 1.4% during the third quarter. Thrivent Financial for Lutherans now owns 1,048,938 shares of the company’s stock worth $4,783,000 after purchasing an additional 14,866 shares during the period. Institutional investors and hedge funds own 89.52% of the company’s stock.

scPharmaceuticals Company Profile

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.