Armistice Capital, LLC Maintains Stake in Strongbridge Biopharma PLC (SBBP)
Armistice Capital, LLC
recently revealed that they own 5.1% of Strongbridge Biopharma PLC (NASDAQ:SBBP) in a Form 13G disclosure that was filed with the SEC on Friday, September 22nd. The investor owns 1,796,000 shares of the stock valued at approximately $13,559,800. The reporting parties listed on the disclosure included Armistice Capital, LLC, Armistice Capital Master Fund Ltd and Steven Boyd. The disclosure is available through EDGAR at this hyperlink.
A number of other hedge funds also recently bought and sold shares of SBBP. Northern Trust Corp bought a new position in Strongbridge Biopharma PLC in the second quarter valued at approximately $1,462,000. Broadfin Capital LLC grew its stake in Strongbridge Biopharma PLC by 3.0% in the first quarter. Broadfin Capital LLC now owns 2,981,706 shares of the biotechnology company’s stock valued at $14,163,000 after purchasing an additional 87,125 shares in the last quarter. Nexthera Capital LP bought a new position in Strongbridge Biopharma PLC in the second quarter valued at approximately $477,000. Vanguard Group Inc. bought a new position in Strongbridge Biopharma PLC in the second quarter valued at approximately $474,000. Finally, TIAA CREF Investment Management LLC bought a new position in Strongbridge Biopharma PLC in the second quarter valued at approximately $449,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.
Shares of Strongbridge Biopharma PLC (NASDAQ:SBBP) traded up 2.03% on Friday, hitting $7.55. The stock had a trading volume of 82,074 shares. Strongbridge Biopharma PLC has a 52 week low of $2.00 and a 52 week high of $8.85. The company’s market capitalization is $266.78 million. The company has a 50-day moving average of $6.81 and a 200 day moving average of $5.43.
Strongbridge Biopharma PLC (NASDAQ:SBBP) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $0.84 million. On average, equities research analysts predict that Strongbridge Biopharma PLC will post ($2.48) EPS for the current year.
A number of research analysts have weighed in on the company. Oppenheimer Holdings, Inc. assumed coverage on Strongbridge Biopharma PLC in a research note on Thursday, August 10th. They issued an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research downgraded Strongbridge Biopharma PLC from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, ValuEngine upgraded Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Strongbridge Biopharma PLC presently has a consensus rating of “Buy” and an average price target of $11.94.
Strongbridge Biopharma PLC Company Profile
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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