Zacks Investment Research Lowers Strongbridge Biopharma (NASDAQ:SBBP) to Hold

Zacks Investment Research cut shares of Strongbridge Biopharma (NASDAQ:SBBP) from a buy rating to a hold rating in a report released on Friday, Zacks.com reports.

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. “

SBBP has been the subject of several other reports. BidaskClub upgraded Strongbridge Biopharma from a strong sell rating to a sell rating in a report on Friday, April 26th. ValuEngine downgraded Strongbridge Biopharma from a sell rating to a strong sell rating in a report on Wednesday, May 1st. Finally, TheStreet downgraded Strongbridge Biopharma from a c- rating to a d+ rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $13.07.

SBBP traded down $0.01 during trading on Friday, reaching $2.50. The stock had a trading volume of 5,426 shares, compared to its average volume of 113,690. The firm’s 50 day simple moving average is $3.00. The company has a market capitalization of $136.01 million, a P/E ratio of 7.92 and a beta of 0.84. Strongbridge Biopharma has a one year low of $2.50 and a one year high of $6.55.

Strongbridge Biopharma (NASDAQ:SBBP) last posted its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Strongbridge Biopharma had a return on equity of 49.92% and a net margin of 181.52%. The business had revenue of $6.08 million during the quarter, compared to the consensus estimate of $4.82 million. On average, equities research analysts predict that Strongbridge Biopharma will post -1.36 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBBP. Stonebridge Capital Management Inc. bought a new stake in Strongbridge Biopharma in the 1st quarter worth about $55,000. Stifel Financial Corp bought a new stake in Strongbridge Biopharma in the 4th quarter worth about $73,000. Oppenheimer & Co. Inc. increased its holdings in Strongbridge Biopharma by 90.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 45,448 shares of the biotechnology company’s stock worth $226,000 after buying an additional 21,626 shares in the last quarter. Private Advisors LLC bought a new stake in Strongbridge Biopharma in the 1st quarter worth about $263,000. Finally, Tibra Equities Europe Ltd bought a new stake in Strongbridge Biopharma in the 1st quarter worth about $324,000. Institutional investors own 50.12% of the company’s stock.

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.

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