Leerink Swann Begins Coverage on Satsuma Pharmaceuticals (NASDAQ:STSA)

Leerink Swann assumed coverage on shares of Satsuma Pharmaceuticals (NASDAQ:STSA) in a report released on Tuesday morning, The Fly reports. The brokerage issued an outperform rating and a $20.00 target price on the financial services provider’s stock.

A number of other brokerages have also recently commented on STSA. Credit Suisse Group assumed coverage on Satsuma Pharmaceuticals in a research note on Tuesday. They issued an outperform rating and a $16.00 price objective for the company. Svb Leerink assumed coverage on Satsuma Pharmaceuticals in a research note on Tuesday. They issued an outperform rating for the company.

Shares of Satsuma Pharmaceuticals stock opened at $9.73 on Tuesday. Satsuma Pharmaceuticals has a 52 week low of $9.02 and a 52 week high of $19.90.

In related news, Director Rajeev M. Shah bought 1,333,333 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Also, major shareholder Group Holdings (Sbs) Advis Tpg bought 100,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of $15.00 per share, for a total transaction of $1,500,000.00. Insiders acquired 1,434,333 shares of company stock valued at $21,503,805 in the last three months. Insiders own 45.65% of the company’s stock.

Satsuma Pharmaceuticals Company Profile

Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops a novel therapeutic product for the acute treatment of migraine. Its product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in Phase III clinical trials and can be self-administered with a proprietary pre-filled single-use nasal delivery device.

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