Strongbridge Biopharma PLC (NASDAQ:SBBP) saw a significant drop in short interest in July. As of July 14th, there was short interest totalling 811,894 shares, a drop of 23.1% from the June 30th total of 1,056,337 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 44,564 shares, the short-interest ratio is presently 18.2 days.
Several institutional investors have recently added to or reduced their stakes in SBBP. Vanguard Group Inc. acquired a new position in Strongbridge Biopharma PLC during the second quarter worth about $474,000. Northern Trust Corp purchased a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at $1,462,000. Citigroup Inc. purchased a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at $338,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at $449,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at $297,000.
SBBP has been the topic of a number of research reports. Zacks Investment Research downgraded Strongbridge Biopharma PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. HC Wainwright restated a “buy” rating on shares of Strongbridge Biopharma PLC in a research report on Wednesday, May 17th. ValuEngine raised Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Oppenheimer Holdings, Inc. assumed coverage on Strongbridge Biopharma PLC in a research note on Thursday. They issued an “outperform” rating and a $12.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.94.
Shares of Strongbridge Biopharma PLC (NASDAQ SBBP) opened at 7.05 on Friday. Strongbridge Biopharma PLC has a 52-week low of $2.00 and a 52-week high of $8.85. The company’s market capitalization is $249.11 million. The firm’s 50-day moving average price is $6.86 and its 200 day moving average price is $4.63.
Strongbridge Biopharma PLC (NASDAQ:SBBP) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.34). The business had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.84 million. On average, equities analysts forecast that Strongbridge Biopharma PLC will post ($2.20) earnings per share for the current year.
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Strongbridge Biopharma PLC Company Profile
Strongbridge Biopharma plc is a global commercial-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies for a range of diseases. The Company’s commercial product, KEVEYIS (dichlorphenamide), is indicated for the treatment of hyperkalemic, hypokalemic and related variants of primary periodic paralysis.
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