Cantor Fitzgerald set a $17.00 price objective on Strongbridge Biopharma (NASDAQ:SBBP) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
A number of other equities research analysts have also issued reports on the company. Janney Montgomery Scott lifted their target price on Strongbridge Biopharma to $16.00 and gave the company a buy rating in a research report on Wednesday, August 8th. Zacks Investment Research raised Strongbridge Biopharma from a hold rating to a buy rating and set a $6.75 target price on the stock in a research report on Wednesday, August 15th. BidaskClub lowered Strongbridge Biopharma from a sell rating to a strong sell rating in a research report on Wednesday, September 5th. JMP Securities lifted their target price on Strongbridge Biopharma from $10.00 to $16.00 and gave the company a market outperform rating in a research report on Thursday, August 9th. Finally, HC Wainwright set a $18.00 target price on Strongbridge Biopharma and gave the company a buy rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $14.75.
Strongbridge Biopharma stock traded down $0.08 during midday trading on Wednesday, reaching $5.84. The stock had a trading volume of 304,527 shares, compared to its average volume of 939,008. Strongbridge Biopharma has a 1-year low of $3.85 and a 1-year high of $9.25. The firm has a market cap of $272.79 million, a PE ratio of -4.03 and a beta of -0.36. The company has a debt-to-equity ratio of 8.76, a quick ratio of 6.38 and a current ratio of 3.38.
Strongbridge Biopharma (NASDAQ:SBBP) last announced its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.06). The company had revenue of $5.35 million during the quarter, compared to analyst estimates of $5.48 million. As a group, equities research analysts predict that Strongbridge Biopharma will post -1.8 EPS for the current year.
In related news, major shareholder Associates L.L.C. Cdk purchased 360,995 shares of the stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $4.93 per share, with a total value of $1,779,705.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of SBBP. Millennium Management LLC increased its position in shares of Strongbridge Biopharma by 380.4% during the 2nd quarter. Millennium Management LLC now owns 662,419 shares of the biotechnology company’s stock worth $3,975,000 after purchasing an additional 524,539 shares during the last quarter. BlackRock Inc. increased its position in shares of Strongbridge Biopharma by 25.4% during the 1st quarter. BlackRock Inc. now owns 1,795,693 shares of the biotechnology company’s stock worth $15,892,000 after purchasing an additional 363,328 shares during the last quarter. Opaleye Management Inc. increased its position in shares of Strongbridge Biopharma by 15.1% during the 2nd quarter. Opaleye Management Inc. now owns 1,830,000 shares of the biotechnology company’s stock worth $10,980,000 after purchasing an additional 240,000 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in shares of Strongbridge Biopharma during the 2nd quarter worth approximately $1,200,000. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Strongbridge Biopharma by 62.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 434,161 shares of the biotechnology company’s stock worth $2,106,000 after acquiring an additional 167,608 shares during the period. 67.24% of the stock is currently owned by hedge funds and other institutional investors.
About Strongbridge Biopharma
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.
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