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

HC Wainwright restated their buy rating on shares of scPharmaceuticals (NASDAQ:SCPH) in a research report report published on Thursday morning,Benzinga reports. They currently have a $18.00 price target on the stock.

scPharmaceuticals Price Performance

Shares of NASDAQ:SCPH opened at $3.01 on Thursday. The company has a quick ratio of 6.89, a current ratio of 8.08 and a debt-to-equity ratio of 1.66. scPharmaceuticals has a fifty-two week low of $2.75 and a fifty-two week high of $5.70. The firm has a 50-day simple moving average of $3.28 and a 200 day simple moving average of $3.80. The company has a market cap of $150.62 million, a PE ratio of -1.58 and a beta of 0.40.

scPharmaceuticals (NASDAQ:SCPH) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. scPharmaceuticals had a negative net margin of 264.60% and a negative return on equity of 244.93%. The business had revenue of $12.15 million during the quarter, compared to the consensus estimate of $12.08 million. On average, sell-side analysts anticipate that scPharmaceuticals will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP grew its position in scPharmaceuticals by 35.5% in the 3rd 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 last quarter. AIGH Capital Management LLC grew its position in scPharmaceuticals by 1.2% in the 4th 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 last quarter. King Luther Capital Management Corp grew its position in scPharmaceuticals by 28.4% in the 4th 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 last quarter. Suvretta Capital Management LLC bought a new position in scPharmaceuticals in the 3rd quarter worth about $9,343,000. Finally, Thrivent Financial for Lutherans grew its position in scPharmaceuticals by 1.4% in the 3rd 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 last quarter. Institutional investors own 89.52% of the company’s stock.

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.