Strongbridge Biopharma (NASDAQ:SBBP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
Several other equities research analysts have also commented on the company. Cantor Fitzgerald set a $14.00 price objective on Strongbridge Biopharma and gave the stock a “buy” rating in a research note on Thursday. BidaskClub lowered Strongbridge Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Strongbridge Biopharma in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $12.81.
Strongbridge Biopharma (NASDAQ:SBBP) last posted its quarterly earnings data on Monday, March 12th. The biotechnology company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.98 million. research analysts predict that Strongbridge Biopharma will post -1.52 EPS for the current year.
A number of institutional investors have recently modified their holdings of SBBP. Vanguard Group Inc. bought a new position in Strongbridge Biopharma in the 2nd quarter worth $474,000. State Street Corp bought a new position in Strongbridge Biopharma in the 2nd quarter worth $443,000. California State Teachers Retirement System bought a new position in Strongbridge Biopharma in the 2nd quarter worth $277,000. Wells Fargo & Company MN boosted its holdings in Strongbridge Biopharma by 1,130.4% in the 4th quarter. Wells Fargo & Company MN now owns 44,640 shares of the biotechnology company’s stock worth $324,000 after buying an additional 41,012 shares during the period. Finally, BlackRock Inc. boosted its holdings in Strongbridge Biopharma by 57.5% in the 4th quarter. BlackRock Inc. now owns 1,432,365 shares of the biotechnology company’s stock worth $10,385,000 after buying an additional 522,875 shares during the period. 57.63% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: This story was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3340631/zacks-investment-research-upgrades-strongbridge-biopharma-sbbp-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Strongbridge Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Strongbridge Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.