Strongbridge Biopharma PLC (SBBP) Rating Lowered to Hold at Zacks Investment Research

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.

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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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