Zacks Investment Research upgraded shares of Strongbridge Biopharma (NASDAQ:SBBP) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. They currently have $3.50 price target on the biotechnology company’s stock.
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. “
SBBP has been the topic of several other research reports. TheStreet cut YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th. BidaskClub raised Zumiez from a hold rating to a buy rating in a research note on Friday, April 26th. Oppenheimer set a $15.00 price target on Strongbridge Biopharma and gave the company a buy rating in a research note on Tuesday, March 26th. Finally, ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $13.07.
Strongbridge Biopharma (NASDAQ:SBBP) last released its earnings results on Wednesday, May 1st. The biotechnology company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.09. Strongbridge Biopharma had a return on equity of 79.31% and a net margin of 227.79%. The company had revenue of $4.34 million for the quarter, compared to analysts’ expectations of $4.69 million. As a group, analysts expect that Strongbridge Biopharma will post -1.36 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. grew its stake in shares of Strongbridge Biopharma by 89.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 355,874 shares of the biotechnology company’s stock valued at $1,594,000 after buying an additional 168,243 shares in the last quarter. 683 Capital Management LLC grew its stake in shares of Strongbridge Biopharma by 183.2% in the 4th quarter. 683 Capital Management LLC now owns 848,700 shares of the biotechnology company’s stock valued at $3,802,000 after buying an additional 549,000 shares in the last quarter. Private Advisors LLC bought a new stake in shares of Strongbridge Biopharma in the 1st quarter valued at approximately $263,000. Stifel Financial Corp bought a new stake in shares of Strongbridge Biopharma in the 4th quarter valued at approximately $73,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Strongbridge Biopharma by 90.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 45,448 shares of the biotechnology company’s stock valued at $226,000 after buying an additional 21,626 shares in the last quarter. 50.12% of the stock is owned by institutional investors and hedge funds.
About Strongbridge Biopharma
Strongbridge Biopharma plc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases with unmet needs. The company's commercial products include Keveyis, an oral carbonic anhydrase inhibitor for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis in the United States; and Macrilen, an oral growth hormone secretagogue receptor agonist for use in the diagnosis of patients with adult growth hormone deficiency.
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