Strongbridge Biopharma plc (NASDAQ:SBBP) Sees Significant Growth in Short Interest

Strongbridge Biopharma plc (NASDAQ:SBBP) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 844,200 shares, a growth of 10.5% from the November 14th total of 763,800 shares. Based on an average daily volume of 350,100 shares, the short-interest ratio is currently 2.4 days. Currently, 2.5% of the shares of the company are sold short.

NASDAQ SBBP traded up $0.01 on Friday, hitting $1.84. 240,430 shares of the company’s stock traded hands, compared to its average volume of 323,857. Strongbridge Biopharma has a 1-year low of $1.43 and a 1-year high of $5.69. The firm’s 50-day moving average price is $1.81 and its two-hundred day moving average price is $2.48. The firm has a market capitalization of $97.03 million, a PE ratio of 5.94 and a beta of 0.71.

Strongbridge Biopharma (NASDAQ:SBBP) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.07. Strongbridge Biopharma had a net margin of 211.37% and a return on equity of 45.77%. The business had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $5.06 million. As a group, equities research analysts forecast that Strongbridge Biopharma will post -1.35 EPS for the current year.

A number of analysts recently commented on the stock. Evercore ISI assumed coverage on shares of Strongbridge Biopharma in a research note on Tuesday, September 24th. They issued an “outperform” rating for the company. Jefferies Financial Group assumed coverage on shares of Strongbridge Biopharma in a research note on Tuesday, September 24th. They issued a “buy” rating and a $8.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Strongbridge Biopharma in a research note on Wednesday, November 6th. ValuEngine upgraded shares of Strongbridge Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Strongbridge Biopharma by 290.6% during the 2nd quarter. BlackRock Inc. now owns 2,285,832 shares of the biotechnology company’s stock valued at $7,154,000 after acquiring an additional 1,700,601 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Strongbridge Biopharma by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 950,081 shares of the biotechnology company’s stock valued at $2,973,000 after acquiring an additional 192,760 shares during the period. State Street Corp lifted its stake in shares of Strongbridge Biopharma by 11.2% in the 3rd quarter. State Street Corp now owns 635,087 shares of the biotechnology company’s stock valued at $1,518,000 after purchasing an additional 63,759 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Strongbridge Biopharma in the 3rd quarter valued at $1,135,000. Finally, River & Mercantile Asset Management LLP acquired a new position in shares of Strongbridge Biopharma in the 2nd quarter valued at $1,445,000. Institutional investors and hedge funds own 50.06% of the company’s stock.

Strongbridge Biopharma Company Profile

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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