Zacks Investment Research Upgrades Strongbridge Biopharma PLC (SBBP) to “Hold”

Strongbridge Biopharma PLC (NASDAQ:SBBP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday. The firm currently has a $7.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.08% from the company’s current price.

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. ValuEngine cut Strongbridge Biopharma PLC from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Oppenheimer Holdings, Inc. started coverage on Strongbridge Biopharma PLC in a report on Thursday, August 10th. They issued an “outperform” rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Strongbridge Biopharma PLC currently has a consensus rating of “Hold” and a consensus price target of $11.81.

Shares of Strongbridge Biopharma PLC (SBBP) traded down 0.79% during midday trading on Wednesday, hitting $6.25. 28,644 shares of the company were exchanged. Strongbridge Biopharma PLC has a 52-week low of $2.00 and a 52-week high of $8.85. The company has a 50-day moving average price of $6.69 and a 200-day moving average price of $5.76. The stock’s market capitalization is $220.84 million.

Strongbridge Biopharma PLC (NASDAQ:SBBP) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $0.84 million. On average, analysts forecast that Strongbridge Biopharma PLC will post ($2.28) EPS for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wisconsin Investment Board purchased a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $114,000. Nexthera Capital LP purchased a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $477,000. California State Teachers Retirement System purchased a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $277,000. State Street Corp purchased a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $443,000. Finally, Rhumbline Advisers purchased a new stake in Strongbridge Biopharma PLC in the 2nd quarter valued at about $154,000. Institutional investors own 62.79% 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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