Strongbridge Biopharma PLC (SBBP) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) from a buy rating to a hold rating in a research report sent to investors 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. “
Several other research firms have also recently weighed in on SBBP. ValuEngine cut Strongbridge Biopharma PLC from a hold rating to a sell rating in a research report on Monday, October 2nd. HC Wainwright reiterated a buy rating and set a $18.00 price objective on shares of Strongbridge Biopharma PLC in a research note on Wednesday, November 15th. Finally, 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 objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $11.81.
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Hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board bought a new stake in shares of Strongbridge Biopharma PLC in the 2nd quarter worth $114,000. Rhumbline Advisers acquired a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $154,000. California State Teachers Retirement System acquired a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $277,000. Teachers Advisors LLC acquired a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $297,000. Finally, Bank of New York Mellon Corp acquired a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $331,000. Institutional investors own 56.29% of the company’s stock.
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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