Stonepine Capital Management LLC Sells 335,843 Shares of scPharmaceuticals, Inc. $SCPH

Key Points

• Stonepine Capital Management LLC has reduced its stake in scPharmaceuticals, Inc. by 49.1%, holding 347,687 shares, valued at approximately $914,000, making it the firm's 23rd largest holding.
• Several large investors, including JPMorgan Chase and Wells Fargo, have significantly increased their positions in scPharmaceuticals during the fourth quarter, contributing to a high institutional ownership of 89.52% of the company's shares.
• Despite a missed earnings estimate of -$0.34 EPS, scPharmaceuticals reported revenue of $16.04 million, exceeding expectations, with analysts currently rating the stock as a Buy and setting an average target price of $14.00.

Stonepine Capital Management LLC trimmed its holdings in shares of scPharmaceuticals, Inc. (NASDAQ:SCPH - Free Report) by 49.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 347,687 shares of the company's stock after selling 335,843 shares during the quarter. scPharmaceuticals comprises 0.9% of Stonepine Capital Management LLC's portfolio, making the stock its 23rd biggest holding. Stonepine Capital Management LLC owned 0.69% of scPharmaceuticals worth $914,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC acquired a new position in scPharmaceuticals during the first quarter worth $31,000. Assenagon Asset Management S.A. bought a new stake in scPharmaceuticals during the first quarter valued at about $33,000. Legato Capital Management LLC boosted its holdings in scPharmaceuticals by 48.1% during the first quarter. Legato Capital Management LLC now owns 15,275 shares of the company's stock valued at $40,000 after acquiring an additional 4,961 shares during the period. Perkins Capital Management Inc. boosted its holdings in scPharmaceuticals by 41.0% during the first quarter. Perkins Capital Management Inc. now owns 17,200 shares of the company's stock valued at $45,000 after acquiring an additional 5,000 shares during the period. Finally, ProShare Advisors LLC bought a new stake in scPharmaceuticals during the fourth quarter valued at about $48,000. 89.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCPH has been the subject of a number of recent analyst reports. Maxim Group cut shares of scPharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday. Craig Hallum cut shares of scPharmaceuticals from a "buy" rating to a "hold" rating and set a $6.00 price target for the company. in a report on Monday. Finally, Wall Street Zen upgraded shares of scPharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.00.

scPharmaceuticals Trading Down 0.2%

SCPH traded down $0.01 during midday trading on Wednesday, reaching $5.52. 3,925,619 shares of the company's stock were exchanged, compared to its average volume of 1,519,883. The company has a quick ratio of 3.14, a current ratio of 3.85 and a debt-to-equity ratio of 3.86. scPharmaceuticals, Inc. has a one year low of $1.94 and a one year high of $6.28. The business has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $3.61.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). The business had revenue of $16.04 million for the quarter, compared to the consensus estimate of $15.41 million. scPharmaceuticals had a negative return on equity of 1,647.86% and a negative net margin of 183.55%. Research analysts predict that scPharmaceuticals, Inc. will post -1.53 EPS for the current fiscal year.

scPharmaceuticals 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.