Strongbridge Biopharma plc (SBBP) Sees Large Increase in Short Interest

Strongbridge Biopharma plc (NASDAQ:SBBP) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 651,723 shares, an increase of 26.9% from the December 15th total of 513,397 shares. Based on an average trading volume of 105,347 shares, the days-to-cover ratio is currently 6.2 days. Currently, 2.3% of the company’s shares are short sold.

Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Strongbridge Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine downgraded shares of Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Strongbridge Biopharma in a research report on Wednesday, December 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Strongbridge Biopharma in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.81.

Shares of Strongbridge Biopharma (SBBP) opened at $8.00 on Friday. Strongbridge Biopharma has a 12-month low of $2.10 and a 12-month high of $8.85. The company has a debt-to-equity ratio of -1.89, a current ratio of 4.70 and a quick ratio of 4.61. The stock has a market cap of $318.50 and a P/E ratio of -2.37.

Hedge funds have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board purchased a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $114,000. Rhumbline Advisers purchased a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $154,000. California State Teachers Retirement System purchased a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $277,000. Teachers Advisors LLC purchased a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $297,000. Finally, Bank of New York Mellon Corp purchased a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $331,000. Institutional investors own 63.96% of the company’s stock.

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Strongbridge Biopharma Company Profile

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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