Zacks Investment Research Lowers Strongbridge Biopharma (SBBP) to Hold

Strongbridge Biopharma (NASDAQ:SBBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

A number of other research firms have also recently issued reports on SBBP. BidaskClub upgraded shares of Strongbridge Biopharma from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 11th. ValuEngine cut shares of Strongbridge Biopharma from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Cantor Fitzgerald started coverage on shares of Strongbridge Biopharma in a report on Tuesday, December 5th. They set a “buy” rating and a $14.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Strongbridge Biopharma in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.81.

Shares of Strongbridge Biopharma (NASDAQ SBBP) opened at $7.85 on Wednesday. The stock has a market cap of $299.03, a price-to-earnings ratio of -2.31 and a beta of 2.60. Strongbridge Biopharma has a fifty-two week low of $2.10 and a fifty-two week high of $8.85. The company has a quick ratio of 4.61, a current ratio of 4.70 and a debt-to-equity ratio of -1.89.

Strongbridge Biopharma (NASDAQ:SBBP) last issued its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.07. analysts anticipate that Strongbridge Biopharma will post -2.86 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in SBBP. Rhumbline Advisers bought a new stake in Strongbridge Biopharma during the second quarter valued at about $154,000. California State Teachers Retirement System bought a new stake in Strongbridge Biopharma during the second quarter valued at about $277,000. Teachers Advisors LLC bought a new stake in Strongbridge Biopharma during the second quarter valued at about $297,000. Bank of New York Mellon Corp bought a new stake in Strongbridge Biopharma during the second quarter valued at about $331,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Strongbridge Biopharma during the second quarter valued at about $332,000. Institutional investors own 63.96% of the company’s stock.

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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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