Strongbridge Biopharma PLC (NASDAQ:SBBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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. “

Several other research firms also recently issued reports on SBBP. Oppenheimer Holdings, Inc. began coverage on Strongbridge Biopharma PLC in a research note on Thursday, August 10th. They set an “outperform” rating and a $12.00 price target for the company. ValuEngine raised Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.94.

Shares of Strongbridge Biopharma PLC (NASDAQ SBBP) opened at 7.30 on Thursday. The stock’s 50 day moving average is $6.81 and its 200-day moving average is $5.43. The stock’s market cap is $257.95 million. Strongbridge Biopharma PLC has a 12-month low of $2.00 and a 12-month high of $8.85.

Strongbridge Biopharma PLC (NASDAQ:SBBP) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). The firm had revenue of $1.53 million for the quarter, compared to analyst estimates of $0.84 million. Equities analysts anticipate that Strongbridge Biopharma PLC will post ($2.48) EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in SBBP. Northern Trust Corp acquired a new position in Strongbridge Biopharma PLC in the 2nd quarter valued at about $1,462,000. Broadfin Capital LLC raised its stake in Strongbridge Biopharma PLC by 3.0% in the 1st quarter. Broadfin Capital LLC now owns 2,981,706 shares of the biotechnology company’s stock valued at $14,163,000 after purchasing an additional 87,125 shares during the last quarter. Nexthera Capital LP acquired a new position in Strongbridge Biopharma PLC in the 2nd quarter valued at about $477,000. Vanguard Group Inc. acquired a new position in Strongbridge Biopharma PLC in the 2nd quarter valued at about $474,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Strongbridge Biopharma PLC in the 2nd quarter valued at about $449,000. 63.65% of the stock is owned by hedge funds and other institutional investors.

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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