Strongbridge Biopharma PLC (SBBP) Downgraded to Hold at Zacks Investment Research
Strongbridge Biopharma PLC (NASDAQ:SBBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 research reports. HC Wainwright reiterated a “buy” rating on shares of Strongbridge Biopharma PLC in a research report on Wednesday, May 17th. ValuEngine upgraded shares of Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th.
Shares of Strongbridge Biopharma PLC (SBBP) opened at 6.85 on Thursday. The firm’s market cap is $242.04 million. Strongbridge Biopharma PLC has a 52-week low of $2.00 and a 52-week high of $8.85. The company’s 50-day moving average is $6.76 and its 200 day moving average is $4.58.
Strongbridge Biopharma PLC (NASDAQ:SBBP) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $0.84 million. On average, analysts expect that Strongbridge Biopharma PLC will post ($1.75) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in SBBP. Broadfin Capital LLC increased its position in shares of 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 worth $14,163,000 after buying an additional 87,125 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Strongbridge Biopharma PLC during the second quarter worth approximately $332,000. Rhumbline Advisers purchased a new position in shares of Strongbridge Biopharma PLC during the second quarter worth approximately $154,000. State of Wisconsin Investment Board purchased a new position in shares of Strongbridge Biopharma PLC during the second quarter worth approximately $114,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Strongbridge Biopharma PLC during the second quarter worth approximately $331,000.
About Strongbridge Biopharma PLC
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 PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Strongbridge Biopharma PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.