Strongbridge Biopharma plc (NASDAQ:SBBP)’s share price rose 5% during trading on Wednesday . The stock traded as high as $3.18 and last traded at $3.15. Approximately 172,100 shares changed hands during trading, a decline of 9% from the average daily volume of 189,247 shares. The stock had previously closed at $3.00.
Several equities research analysts have recently issued reports on the stock. Oppenheimer set a $15.00 target price on shares of Strongbridge Biopharma and gave the stock a “buy” rating in a report on Tuesday, February 26th. Cantor Fitzgerald set a $12.00 target price on shares of Strongbridge Biopharma and gave the stock a “buy” rating in a report on Tuesday, February 26th. TheStreet upgraded shares of Strongbridge Biopharma from a “d-” rating to a “c-” rating in a report on Tuesday, February 26th. ValuEngine lowered shares of Strongbridge Biopharma from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Strongbridge Biopharma currently has an average rating of “Hold” and an average target price of $13.14.
The firm has a market capitalization of $162.78 million, a PE ratio of 10.16 and a beta of 0.79.
A number of institutional investors and hedge funds have recently made changes to their positions in SBBP. Vivo Capital LLC bought a new stake in Strongbridge Biopharma during the 1st quarter valued at about $4,552,000. 683 Capital Management LLC lifted its holdings in Strongbridge Biopharma by 183.2% during the 4th quarter. 683 Capital Management LLC now owns 848,700 shares of the biotechnology company’s stock valued at $3,802,000 after buying an additional 549,000 shares in the last quarter. Prosight Management LP lifted its holdings in Strongbridge Biopharma by 121.3% during the 4th quarter. Prosight Management LP now owns 937,900 shares of the biotechnology company’s stock valued at $4,202,000 after buying an additional 514,054 shares in the last quarter. 22NW LP bought a new stake in Strongbridge Biopharma during the 4th quarter valued at about $1,812,000. Finally, Hudson Bay Capital Management LP lifted its holdings in Strongbridge Biopharma by 48.1% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,000,000 shares of the biotechnology company’s stock valued at $4,480,000 after buying an additional 324,900 shares in the last quarter. Institutional investors own 50.12% of the company’s stock.
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Strongbridge Biopharma Company Profile (NASDAQ:SBBP)
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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