Strongbridge Biopharma (NASDAQ:SBBP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “
SBBP has been the subject of several other research reports. Cantor Fitzgerald set a $17.00 target price on shares of Strongbridge Biopharma and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Janney Montgomery Scott increased their target price on shares of Strongbridge Biopharma to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BidaskClub lowered shares of Strongbridge Biopharma from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 10th. ValuEngine raised shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, JMP Securities raised their price objective on shares of Strongbridge Biopharma from $10.00 to $16.00 and gave the company a “market outperform” rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.75.
Strongbridge Biopharma (NASDAQ:SBBP) last announced its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.06). The business had revenue of $5.35 million for the quarter, compared to the consensus estimate of $5.48 million. As a group, analysts forecast that Strongbridge Biopharma will post -1.89 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SBBP. Laurion Capital Management LP purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at approximately $101,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at approximately $110,000. Cubist Systematic Strategies LLC purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at approximately $130,000. Jane Street Group LLC purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at approximately $154,000. Finally, California Public Employees Retirement System purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at approximately $185,000. 67.30% of the stock is 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 in the United States and Canada.
Featured Article: Day Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Strongbridge Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Strongbridge Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.