HC Wainwright Reaffirms Buy Rating for scPharmaceuticals (NASDAQ:SCPH)

HC Wainwright reissued their buy rating on shares of scPharmaceuticals (NASDAQ:SCPH) in a report published on Thursday,Benzinga reports. The brokerage currently has a $18.00 price target on the stock.

Separately, Craig Hallum reduced 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

Shares of NASDAQ SCPH opened at $3.46 on Thursday. The company has a current ratio of 8.08, a quick ratio of 3.66 and a debt-to-equity ratio of 1.66. scPharmaceuticals has a twelve month low of $3.08 and a twelve month high of $6.71. The company has a market capitalization of $173.14 million, a price-to-earnings ratio of -1.82 and a beta of 0.15. The firm has a 50-day moving average of $4.46 and a two-hundred day moving average of $4.48.

Institutional Trading of scPharmaceuticals

A number of hedge funds have recently made changes to their positions in SCPH. BNP Paribas Financial Markets lifted its position in shares of scPharmaceuticals by 116.9% in the third quarter. BNP Paribas Financial Markets now owns 5,753 shares of the company’s stock worth $26,000 after purchasing an additional 3,101 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in scPharmaceuticals in the third quarter worth approximately $57,000. MetLife Investment Management LLC increased its holdings in scPharmaceuticals by 135.0% in the third quarter. MetLife Investment Management LLC now owns 16,974 shares of the company’s stock worth $77,000 after buying an additional 9,752 shares during the last quarter. Captrust Financial Advisors increased its holdings in scPharmaceuticals by 32.2% in the third quarter. Captrust Financial Advisors now owns 18,539 shares of the company’s stock worth $85,000 after buying an additional 4,513 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in scPharmaceuticals in the first quarter worth approximately $90,000. 89.52% of the stock is owned by hedge funds and other 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.