Teachers Advisors LLC acquired a new position in Strongbridge Biopharma plc (NASDAQ:SBBP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 41,486 shares of the biotechnology company’s stock, valued at approximately $297,000. Teachers Advisors LLC owned 0.12% of Strongbridge Biopharma as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. bought a new stake in shares of Strongbridge Biopharma in the 2nd quarter worth $332,000. Bank of New York Mellon Corp purchased a new position in Strongbridge Biopharma during the second quarter valued at $331,000. Rhumbline Advisers purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at about $154,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of Strongbridge Biopharma in the second quarter valued at about $114,000. Institutional investors and hedge funds own 57.53% of the company’s stock.
Shares of Strongbridge Biopharma plc (SBBP) traded down $0.45 during midday trading on Monday, hitting $6.30. The company had a trading volume of 156,374 shares, compared to its average volume of 108,647. The company has a quick ratio of 4.61, a current ratio of 4.70 and a debt-to-equity ratio of -1.89. Strongbridge Biopharma plc has a 12-month low of $2.00 and a 12-month high of $8.85.
Several brokerages have recently commented on SBBP. Zacks Investment Research downgraded Strongbridge Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Strongbridge Biopharma in a research note on Wednesday, November 15th. ValuEngine cut Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Oppenheimer assumed coverage on Strongbridge Biopharma in a research note on Thursday, August 10th. They set an “outperform” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Strongbridge Biopharma presently has an average rating of “Hold” and a consensus price target of $11.81.
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About Strongbridge Biopharma
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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