Strongbridge Biopharma (NASDAQ:SBBP) had its target price raised by equities researchers at JMP Securities from $10.00 to $16.00 in a research note issued to investors on Thursday, August 9th. The firm currently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ price target indicates a potential upside of 190.91% from the stock’s previous close.
Several other research firms have also recently commented on SBBP. BidaskClub cut Strongbridge Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Janney Montgomery Scott initiated coverage on Strongbridge Biopharma in a report on Thursday, June 28th. They issued a “buy” rating for the company. ValuEngine upgraded Strongbridge Biopharma from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Strongbridge Biopharma from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, HC Wainwright restated a “buy” rating on shares of Strongbridge Biopharma in a report on Friday, May 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Strongbridge Biopharma has a consensus rating of “Hold” and a consensus target price of $14.75.
SBBP traded down $0.05 during midday trading on Thursday, hitting $5.50. The company’s stock had a trading volume of 350,300 shares, compared to its average volume of 418,780. The company has a debt-to-equity ratio of 8.76, a current ratio of 6.46 and a quick ratio of 6.38. The stock has a market capitalization of $254.57 million, a price-to-earnings ratio of -3.79 and a beta of 0.60. Strongbridge Biopharma has a 52-week low of $4.30 and a 52-week high of $9.25.
In other news, major shareholder Associates L.L.C. Cdk acquired 55,500 shares of Strongbridge Biopharma stock in a transaction dated Monday, July 23rd. The shares were acquired at an average cost of $4.96 per share, with a total value of $275,280.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 910,795 shares of company stock worth $4,430,231 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Strongbridge Biopharma in the 2nd quarter valued at about $154,000. California Public Employees Retirement System acquired a new position in Strongbridge Biopharma during the 2nd quarter worth approximately $185,000. Millennium Management LLC lifted its position in 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 acquiring an additional 524,539 shares in the last quarter. Opaleye Management Inc. lifted its position in 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 acquiring an additional 240,000 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Strongbridge Biopharma during the 2nd quarter worth approximately $817,000. 66.89% of the stock is currently owned by institutional investors and hedge funds.
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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