Strongbridge Biopharma PLC (NASDAQ:SBBP) Issues Earnings Results

Strongbridge Biopharma PLC (NASDAQ:SBBP) posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.34) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.34), MarketWatch Earnings reports. The company had revenue of $1.53 million during the quarter, compared to the consensus estimate of $0.84 million.

Shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) opened at 7.05 on Friday. The firm has a 50-day moving average price of $6.98 and a 200 day moving average price of $4.80. The stock’s market cap is $249.11 million. Strongbridge Biopharma PLC has a 52 week low of $2.00 and a 52 week high of $8.85.

Several research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. assumed coverage on shares of Strongbridge Biopharma PLC in a research report on Thursday, August 10th. They issued an “outperform” rating and a $12.00 price objective on the stock. Zacks Investment Research cut shares of Strongbridge Biopharma PLC from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, HC Wainwright restated a “buy” rating on shares of Strongbridge Biopharma PLC in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.94.

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in Strongbridge Biopharma PLC during the second quarter worth about $277,000. State Street Corp purchased a new stake in Strongbridge Biopharma PLC during the second quarter worth about $443,000. Nexthera Capital LP purchased a new stake in Strongbridge Biopharma PLC during the second quarter worth about $477,000. Vanguard Group Inc. purchased a new stake in Strongbridge Biopharma PLC during the second quarter worth about $474,000. Finally, Northern Trust Corp purchased a new stake in Strongbridge Biopharma PLC during the second quarter worth about $1,462,000.

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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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