SteadyMed (STDY) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of SteadyMed (NASDAQ:STDY) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday. They currently have $3.25 price target on the stock.

According to Zacks, “SteadyMed Ltd. is a specialty pharmaceutical company which focused on the development of drug products to treat orphan and other diseases. The company’s lead candidate consist of Trevyent(R), a development stage drug product which utilizes SteadyMed’s PatchPump(R) technology to treat pulmonary arterial hypertension. SteadyMed Ltd. is headquartered in San Ramon, California. “

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Separately, JMP Securities restated a buy rating on shares of SteadyMed in a research note on Wednesday, January 10th.

Shares of NASDAQ:STDY opened at $3.55 on Thursday. SteadyMed has a 52 week low of $2.80 and a 52 week high of $7.50. The firm has a market capitalization of $95.66, a PE ratio of -8.26 and a beta of 0.53.

Several large investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in shares of SteadyMed by 7.0% in the 4th quarter. Millennium Management LLC now owns 310,232 shares of the company’s stock valued at $1,148,000 after purchasing an additional 20,232 shares in the last quarter. Highland Capital Management LP acquired a new stake in shares of SteadyMed in the 4th quarter valued at $462,000. Essex Investment Management Co. LLC boosted its stake in shares of SteadyMed by 870.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 275,764 shares of the company’s stock valued at $1,020,000 after purchasing an additional 247,343 shares in the last quarter. Finally, Stonepine Capital Management LLC acquired a new stake in shares of SteadyMed in the 4th quarter valued at $2,286,000. Institutional investors own 56.71% of the company’s stock.

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SteadyMed Company Profile

SteadyMed Ltd., together with its subsidiaries, operates as a specialty pharmaceutical company that focuses on the development and commercialization of drug product candidates for the treatment of orphan and other diseases with unmet parenteral delivery needs. The company's product candidates are enabled by its proprietary PatchPump, a discreet, pre-filled, water-resistant, and disposable parenteral drug administration technology.

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