Zacks Investment Research lowered shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) from a buy rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Strongbridge Biopharma PLC is a biopharmaceutical company which develops, acquires and commercializes product candidates that target rare diseases. Its product candidate consists of COR-003, is a cortisol inhibitor, for the treatment of endogenous Cushing’s syndrome, COR-004 and COR-005 to treat acromegaly, BP-2001, the treatment of diabetes which are in different clinical trial. Strongbridge Biopharma PLC is based in Trevose, Pennsylvania. “
A number of other analysts also recently commented on SBBP. HC Wainwright restated a buy rating on shares of Strongbridge Biopharma PLC in a research report on Wednesday, May 17th. ValuEngine upgraded shares of Strongbridge Biopharma PLC from a sell rating to a hold rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Strongbridge Biopharma PLC presently has a consensus rating of Buy and an average target price of $11.94.
Shares of Strongbridge Biopharma PLC (SBBP) traded up 3.26% on Thursday, reaching $7.28. 8,713 shares of the company’s stock traded hands. Strongbridge Biopharma PLC has a 52 week low of $2.00 and a 52 week high of $8.85. The firm’s market capitalization is $257.24 million. The company has a 50 day moving average price of $6.86 and a 200 day moving average price of $4.63.
Strongbridge Biopharma PLC (NASDAQ:SBBP) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). The company had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.84 million. On average, equities research analysts predict that Strongbridge Biopharma PLC will post ($2.20) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Broadfin Capital LLC increased its stake in Strongbridge Biopharma PLC by 3.0% in the first quarter. Broadfin Capital LLC now owns 2,981,706 shares of the biotechnology company’s stock worth $14,163,000 after buying an additional 87,125 shares during the period. Schwab Charles Investment Management Inc. bought a new stake in Strongbridge Biopharma PLC during the second quarter worth approximately $332,000. Rhumbline Advisers bought a new stake in Strongbridge Biopharma PLC during the second quarter worth approximately $154,000. State of Wisconsin Investment Board bought a new stake in Strongbridge Biopharma PLC during the second quarter worth approximately $114,000. Finally, Bank of New York Mellon Corp bought a new stake in Strongbridge Biopharma PLC during the second quarter worth approximately $331,000.
About Strongbridge Biopharma PLC
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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