Strongbridge Biopharma PLC (NASDAQ:SBBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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 subject of a number of other reports. ValuEngine raised shares of Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Oppenheimer Holdings, Inc. began coverage on shares of 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. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.94.

Strongbridge Biopharma PLC (NASDAQ:SBBP) traded down 17.33% on Wednesday, reaching $6.20. 1,135,893 shares of the company’s stock traded hands. The company’s 50 day moving average is $6.88 and its 200-day moving average is $5.68. The stock’s market cap is $219.08 million. Strongbridge Biopharma PLC has a 52-week low of $2.00 and a 52-week high of $8.85.

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

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A number of institutional investors have recently made changes to their positions in the stock. 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 acquiring an additional 87,125 shares during the period. Northern Trust Corp bought a new position in Strongbridge Biopharma PLC during the second quarter worth about $1,462,000. Nexthera Capital LP bought a new position in Strongbridge Biopharma PLC during the second quarter worth about $477,000. Vanguard Group Inc. bought a new position in Strongbridge Biopharma PLC during the second quarter worth about $474,000. Finally, TIAA CREF Investment Management LLC bought a new position in Strongbridge Biopharma PLC during the second quarter worth about $449,000. Institutional investors and hedge funds own 63.65% of the company’s stock.

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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