Velan Capital Investment Management LP Makes New $2.41 Million Investment in scPharmaceuticals, Inc. $SCPH

Key Points

• Velan Capital Investment Management LP recently acquired a new stake in scPharmaceuticals, Inc., purchasing 917,668 shares valued at approximately $2.4 million, making it the fund's 12th largest holding.
• Analysts have recently downgraded scPharmaceuticals with a consensus rating of "Hold" and an average price target of $12.00, despite the stock experiencing fluctuations in its market performance.
• scPharmaceuticals reported a loss of ($0.34) earnings per share for the latest quarter, missing analyst estimates, but had revenues of $16.04 million, exceeding expectations.

Velan Capital Investment Management LP bought a new position in scPharmaceuticals, Inc. (NASDAQ:SCPH - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 917,668 shares of the company's stock, valued at approximately $2,413,000. scPharmaceuticals comprises approximately 2.5% of Velan Capital Investment Management LP's portfolio, making the stock its 12th biggest holding. Velan Capital Investment Management LP owned 1.82% of scPharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCPH. Chicago Partners Investment Group LLC purchased a new position in shares of scPharmaceuticals in the 1st quarter worth about $31,000. Assenagon Asset Management S.A. purchased a new stake in scPharmaceuticals during the 1st quarter valued at about $33,000. Legato Capital Management LLC boosted its holdings in scPharmaceuticals by 48.1% during the 1st 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 1st 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 purchased a new stake in scPharmaceuticals during the 4th quarter valued at about $48,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCPH has been the subject of several analyst reports. HC Wainwright cut scPharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday. Wall Street Zen upgraded scPharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Craig Hallum cut scPharmaceuticals from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a report on Monday, August 25th. Finally, Maxim Group cut scPharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.00.

scPharmaceuticals Stock Down 0.2%

Shares of SCPH traded down $0.01 on Monday, reaching $5.50. The stock had a trading volume of 4,384,922 shares, compared to its average volume of 2,056,775. The firm has a market capitalization of $293.15 million, a price-to-earnings ratio of -3.04 and a beta of 0.35. The company has a debt-to-equity ratio of 3.86, a quick ratio of 3.14 and a current ratio of 3.85. The company has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $3.65. scPharmaceuticals, Inc. has a 12-month low of $1.94 and a 12-month high of $6.28.

scPharmaceuticals (NASDAQ:SCPH - Get Free Report) last released its 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). scPharmaceuticals had a negative net margin of 183.55% and a negative return on equity of 1,647.86%. The firm had revenue of $16.04 million during the quarter, compared to analysts' expectations of $15.41 million. Sell-side analysts predict that scPharmaceuticals, Inc. will post -1.53 EPS for the current year.

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.