Zacks Investment Research upgraded shares of Strongbridge Biopharma (NASDAQ:SBBP) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $3.50 target price 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. “

Several other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of 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 shares of Strongbridge Biopharma and gave the stock a buy rating in a research note on Tuesday, March 26th. TheStreet cut shares of YRC Worldwide from a c rating to a d+ rating in a research note on Wednesday, May 15th. Finally, ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $13.07.

Shares of NASDAQ SBBP opened at $2.87 on Tuesday. The firm has a market cap of $156.02 million, a PE ratio of 9.26 and a beta of 0.85. Strongbridge Biopharma has a 52 week low of $2.76 and a 52 week high of $6.55. The company has a 50-day simple moving average of $3.09.

Strongbridge Biopharma (NASDAQ:SBBP) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.09. Strongbridge Biopharma had a net margin of 227.79% and a return on equity of 79.31%. The company had revenue of $4.34 million for the quarter, compared to analysts’ expectations of $4.69 million. On average, sell-side analysts anticipate that Strongbridge Biopharma will post -1.36 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. boosted its position in shares of Strongbridge Biopharma by 89.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 355,874 shares of the biotechnology company’s stock worth $1,594,000 after acquiring an additional 168,243 shares during the last quarter. 683 Capital Management LLC boosted its position in shares of Strongbridge Biopharma by 183.2% in the fourth quarter. 683 Capital Management LLC now owns 848,700 shares of the biotechnology company’s stock worth $3,802,000 after acquiring an additional 549,000 shares during the last quarter. Private Advisors LLC acquired a new stake in shares of Strongbridge Biopharma in the first quarter worth approximately $263,000. Stifel Financial Corp acquired a new stake in shares of Strongbridge Biopharma in the fourth quarter worth approximately $73,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Strongbridge Biopharma by 90.8% in the first quarter. Oppenheimer & Co. Inc. now owns 45,448 shares of the biotechnology company’s stock worth $226,000 after acquiring an additional 21,626 shares during the last quarter. 50.12% of the stock is currently owned by institutional investors and hedge funds.

Strongbridge Biopharma Company Profile

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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