Strongbridge Biopharma PLC (NASDAQ:SBBP) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $7.75 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. “
Other research analysts also recently issued reports about the company. ValuEngine upgraded Strongbridge Biopharma PLC from a sell rating to a hold rating in a research note on Tuesday, June 27th. HC Wainwright reiterated a buy rating on shares of Strongbridge Biopharma PLC in a research note on Wednesday, May 17th.
Shares of Strongbridge Biopharma PLC (NASDAQ SBBP) traded up 3.7909% on Wednesday, hitting $6.8502. The stock had a trading volume of 32,386 shares. Strongbridge Biopharma PLC has a 52 week low of $2.00 and a 52 week high of $7.90. The company’s market cap is $242.05 million. The stock’s 50-day moving average price is $5.66 and its 200 day moving average price is $4.11.
Strongbridge Biopharma PLC (NASDAQ:SBBP) last issued its earnings results on Tuesday, May 16th. The biotechnology company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.16. On average, analysts predict that Strongbridge Biopharma PLC will post ($1.66) EPS for the current year.
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A hedge fund recently raised its stake in Strongbridge Biopharma PLC stock. Broadfin Capital LLC boosted its stake in shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,981,706 shares of the biotechnology company’s stock after buying an additional 87,125 shares during the period. Strongbridge Biopharma PLC comprises 1.7% of Broadfin Capital LLC’s holdings, making the stock its 18th largest position. Broadfin Capital LLC owned 8.44% of Strongbridge Biopharma PLC worth $14,163,000 as of its most recent filing with the SEC.
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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