Raymond James & Associates Increases Stock Position in scPharmaceuticals Inc. (NASDAQ:SCPH)

Raymond James & Associates raised its position in scPharmaceuticals Inc. (NASDAQ:SCPH) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,049 shares of the company’s stock after acquiring an additional 5,377 shares during the quarter. Raymond James & Associates owned approximately 0.24% of scPharmaceuticals worth $546,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SCPH. Rice Hall James & Associates LLC grew its stake in shares of scPharmaceuticals by 9.1% in the third quarter. Rice Hall James & Associates LLC now owns 87,071 shares of the company’s stock worth $620,000 after purchasing an additional 7,241 shares during the last quarter. Tejara Capital Ltd bought a new stake in shares of scPharmaceuticals in the 3rd quarter worth approximately $722,000. Worth Venture Partners LLC grew its position in shares of scPharmaceuticals by 5.3% in the 3rd quarter. Worth Venture Partners LLC now owns 539,665 shares of the company’s stock worth $3,842,000 after buying an additional 27,328 shares during the last quarter. AIGH Capital Management LLC increased its stake in shares of scPharmaceuticals by 7.6% during the third quarter. AIGH Capital Management LLC now owns 2,207,009 shares of the company’s stock valued at $15,714,000 after buying an additional 155,204 shares during the period. Finally, Rubric Capital Management LP raised its holdings in shares of scPharmaceuticals by 234.3% during the third quarter. Rubric Capital Management LP now owns 2,713,287 shares of the company’s stock valued at $19,319,000 after acquiring an additional 1,901,770 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

scPharmaceuticals Price Performance

SCPH stock opened at $4.35 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 7.08 and a quick ratio of 6.40. scPharmaceuticals Inc. has a 1 year low of $4.25 and a 1 year high of $12.75. The firm has a 50-day moving average of $5.29 and a 200 day moving average of $5.53. The company has a market cap of $156.82 million, a P/E ratio of -3.06 and a beta of 0.06.

scPharmaceuticals (NASDAQ:SCPH) last posted its earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.07. The firm had revenue of $6.10 million for the quarter, compared to the consensus estimate of $6.10 million. scPharmaceuticals had a negative return on equity of 97.18% and a negative net margin of 403.22%. On average, sell-side analysts forecast that scPharmaceuticals Inc. will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of scPharmaceuticals in a report on Thursday, March 14th.

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.