Strongbridge Biopharma (NASDAQ:SBBP) has received an average recommendation of “Buy” from the six brokerages that are currently covering the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.33.
SBBP has been the subject of several analyst reports. Zacks Investment Research raised Strongbridge Biopharma from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Wednesday, July 20th. HC Wainwright reaffirmed a “buy” rating on shares of Strongbridge Biopharma in a research note on Wednesday, June 22nd.
Shares of Strongbridge Biopharma (NASDAQ:SBBP) opened at 5.10 on Friday. The stock has a 50 day moving average price of $4.71 and a 200-day moving average price of $4.59. The firm’s market capitalization is $108.15 million. Strongbridge Biopharma has a 52 week low of $3.30 and a 52 week high of $14.30.
A hedge fund recently bought a new stake in Strongbridge Biopharma stock. Granite Point Capital Management L.P. bought a new position in Strongbridge Biopharma (NASDAQ:SBBP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 705,480 shares of the company’s stock, valued at approximately $2,808,000. Strongbridge Biopharma accounts for approximately 1.2% of Granite Point Capital Management L.P.’s investment portfolio, making the stock its 13th largest position. Granite Point Capital Management L.P. owned 3.33% of Strongbridge Biopharma at the end of the most recent quarter. Institutional investors own 43.76% of the company’s stock.
About Strongbridge Biopharma
Strongbridge Biopharma plc, formerly Cortendo plc, is a development-stage biopharmaceutical company. The Company is engaged in advancing its product candidates through clinical development. The Company is focused on the development, in-licensing, acquisition and eventual commercialization of several complementary products and product candidates within franchises that target rare diseases.
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