Zacks Investment Research Upgrades Strongbridge Biopharma (SBBP) to Hold

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. “

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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.

NASDAQ:SBBP opened at $7.60 on Friday. The company has a debt-to-equity ratio of -3.17, a quick ratio of 4.84 and a current ratio of 4.88. Strongbridge Biopharma has a one year low of $3.50 and a one year high of $9.25.

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.

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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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