Strongbridge Biopharma (NASDAQ:SBBP) Given Consensus Rating of “Buy” by Brokerages
Shares of Strongbridge Biopharma (NASDAQ:SBBP) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the firm. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $14.33.
SBBP has been the topic of several analyst reports. Zacks Investment Research raised shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a report on Wednesday, July 20th. HC Wainwright reaffirmed a “buy” rating on shares of Strongbridge Biopharma in a report on Wednesday, June 22nd.
An institutional investor recently bought a new position in Strongbridge Biopharma stock. Granite Point Capital Management L.P. acquired a new position in Strongbridge Biopharma (NASDAQ:SBBP) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 705,480 shares of the company’s stock, valued at approximately $2,808,000. Strongbridge Biopharma makes up 1.2% of Granite Point Capital Management L.P.’s holdings, making the stock its 13th largest position. Granite Point Capital Management L.P. owned about 3.33% of Strongbridge Biopharma at the end of the most recent quarter. 43.76% of the stock is currently owned by institutional investors and hedge funds.
Strongbridge Biopharma (NASDAQ:SBBP) traded up 14.11% on Friday, hitting $5.50. 19,753 shares of the stock traded hands. The stock’s market capitalization is $116.63 million. Strongbridge Biopharma has a 12-month low of $3.30 and a 12-month high of $14.30. The company’s 50 day moving average price is $4.62 and its 200-day moving average price is $4.58.
Strongbridge Biopharma Company Profile
Strongbridge Biopharma plc, formerly Cortendo plc, is a development-stage biopharmaceutical company. The Company is engaged in advancing its product candidates through clinical development. The Company is focused on the development, in-licensing, acquisition and eventual commercialization of several complementary products and product candidates within franchises that target rare diseases.
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