Craig Hallum Cuts scPharmaceuticals (NASDAQ:SCPH) Price Target to $12.00

scPharmaceuticals (NASDAQ:SCPH) had its price target trimmed by Craig Hallum from $16.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of scPharmaceuticals in a research note on Monday, August 19th.

scPharmaceuticals Price Performance

Shares of SCPH opened at $3.46 on Thursday. scPharmaceuticals has a 12 month low of $3.08 and a 12 month high of $6.71. The stock has a fifty day moving average price of $4.46 and a 200 day moving average price of $4.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.66 and a current ratio of 8.08.

scPharmaceuticals (NASDAQ:SCPH) last issued its earnings results on Wednesday, August 14th. The company reported ($0.44) earnings per share for the quarter, hitting the consensus estimate of ($0.44). scPharmaceuticals had a negative return on equity of 244.93% and a negative net margin of 264.60%. The company had revenue of $8.05 million for the quarter, compared to analyst estimates of $8.04 million. As a group, sell-side analysts anticipate that scPharmaceuticals will post -1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On scPharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in scPharmaceuticals in the second quarter valued at $1,544,000. King Luther Capital Management Corp raised its holdings in scPharmaceuticals by 51.8% during the 2nd quarter. King Luther Capital Management Corp now owns 2,205,140 shares of the company’s stock valued at $9,592,000 after acquiring an additional 752,005 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of scPharmaceuticals by 76.9% in the second quarter. Rice Hall James & Associates LLC now owns 497,227 shares of the company’s stock worth $2,163,000 after purchasing an additional 216,122 shares during the period. AIGH Capital Management LLC grew its position in scPharmaceuticals by 3.4% in the second quarter. AIGH Capital Management LLC now owns 3,504,365 shares of the company’s stock worth $15,244,000 after acquiring an additional 115,206 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in scPharmaceuticals by 266.7% during the second quarter. Assenagon Asset Management S.A. now owns 72,692 shares of the company’s stock valued at $316,000 after buying an additional 52,870 shares during the period. 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.