Strongbridge Biopharma plc (NASDAQ:SBBP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Strongbridge Biopharma plc (NASDAQ:SBBP) by 92.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,756 shares of the biotechnology company’s stock after acquiring an additional 45,049 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Strongbridge Biopharma worth $278,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Strongbridge Biopharma by 19.3% in the 1st quarter. Morgan Stanley now owns 2,329,880 shares of the biotechnology company’s stock valued at $6,431,000 after acquiring an additional 376,782 shares during the last quarter. BlackRock Inc. grew its stake in shares of Strongbridge Biopharma by 4.0% in the 1st quarter. BlackRock Inc. now owns 2,197,121 shares of the biotechnology company’s stock valued at $6,064,000 after buying an additional 85,496 shares during the period. Geode Capital Management LLC grew its stake in shares of Strongbridge Biopharma by 25.0% in the 1st quarter. Geode Capital Management LLC now owns 723,069 shares of the biotechnology company’s stock valued at $1,995,000 after buying an additional 144,645 shares during the period. Worth Venture Partners LLC grew its stake in shares of Strongbridge Biopharma by 22.5% in the 1st quarter. Worth Venture Partners LLC now owns 550,196 shares of the biotechnology company’s stock valued at $1,519,000 after buying an additional 101,150 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Strongbridge Biopharma by 55.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 214,041 shares of the biotechnology company’s stock valued at $590,000 after buying an additional 76,054 shares during the period. Institutional investors own 52.03% of the company’s stock.

NASDAQ:SBBP opened at $2.00 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.95 and a current ratio of 3.00. The stock has a market capitalization of $135.66 million, a P/E ratio of -2.67 and a beta of 1.58. The company has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.47. Strongbridge Biopharma plc has a fifty-two week low of $1.85 and a fifty-two week high of $4.26.

Strongbridge Biopharma (NASDAQ:SBBP) last posted its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.09). The company had revenue of $10.04 million for the quarter, compared to analysts’ expectations of $8.83 million. Strongbridge Biopharma had a negative return on equity of 66.82% and a negative net margin of 115.67%. Research analysts forecast that Strongbridge Biopharma plc will post -0.56 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised shares of Strongbridge Biopharma from a “sell” rating to a “hold” rating in a research note on Thursday, October 7th.

Strongbridge Biopharma Profile

Strongbridge Biopharma Plc operates as a commercial-stage biopharmaceutical company, which focuses on the development and commercialization of therapies for rare diseases. Its pipeline is comprised of Keveyis, Macrilen, Recorlev, and Veldoreotide. The company was founded in 1996 and is headquartered in Trevose, PA.

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Institutional Ownership by Quarter for Strongbridge Biopharma (NASDAQ:SBBP)

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