Satsuma Pharmaceuticals (NASDAQ:STSA) Stock Crosses Above 200-Day Moving Average of $0.00

Satsuma Pharmaceuticals (NASDAQ:STSA) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $11.23. Satsuma Pharmaceuticals shares last traded at $11.23, with a volume of 100 shares changing hands.

Several equities research analysts have recently weighed in on the company. Svb Leerink assumed coverage on Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating on the stock. Credit Suisse Group assumed coverage on Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Leerink Swann assumed coverage on Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating and a $20.00 price target on the stock.

In related news, major shareholder Group Holdings (Sbs) Advis Tpg purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $1,500,000.00. Also, Director Rajeev M. Shah purchased 1,333,333 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Over the last quarter, insiders have bought 1,434,333 shares of company stock worth $21,503,805. Company insiders own 45.65% of the company’s stock.

About Satsuma Pharmaceuticals (NASDAQ:STSA)

Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops a novel therapeutic product for the acute treatment of migraine. Its product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in Phase III clinical trials and can be self-administered with a proprietary pre-filled single-use nasal delivery device.

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