Research analysts at Cantor Fitzgerald started coverage on shares of Strongbridge Biopharma (NASDAQ:SBBP) in a research note issued on Tuesday. The firm set a “buy” rating and a $14.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 118.75% from the company’s previous close.
The analysts wrote, “Right Team in Place. Following challenges faced by Taro Pharmaceuticals (TARO – NC) in commercializing KEVEYIS, we believe Strongbridge is well equipped to conduct a successful re-launch. The management team brings experience from an array of blue chip commercial pharmaceutical corporations: Shire (SHPG – OW, by Cantor Analyst Louise Chen), Bristol-Myers Squibb (BMY – NC), Johnson & Johnson(JNJ – NC), and Eli Lilly (LLY – NC). In addition to this critical know-how, Strongbridge has also hired an impressive sales force with experiences from orphan organizations such as Shire, Biomarin (BMRN – NC), and Retrophin (RTRX – NC).””
Several other equities research analysts have also recently commented on SBBP. Zacks Investment Research cut Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. ValuEngine cut Strongbridge Biopharma from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Oppenheimer initiated coverage on Strongbridge Biopharma in a research note on Thursday, August 10th. They issued an “outperform” rating and a $12.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Strongbridge Biopharma in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Strongbridge Biopharma presently has an average rating of “Buy” and an average target price of $12.25.
Strongbridge Biopharma (NASDAQ SBBP) traded up $0.10 during trading hours on Tuesday, reaching $6.40. The company’s stock had a trading volume of 105,267 shares, compared to its average volume of 108,632. The company has a debt-to-equity ratio of -1.89, a quick ratio of 4.61 and a current ratio of 4.70. Strongbridge Biopharma has a 52 week low of $2.00 and a 52 week high of $8.85.
Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $114,000. Rhumbline Advisers acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $154,000. California State Teachers Retirement System acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $277,000. Teachers Advisors LLC acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $297,000. Finally, Bank of New York Mellon Corp acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth approximately $331,000. Hedge funds and other institutional investors own 57.53% 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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