Strongbridge Biopharma PLC (SBBP) Announces Quarterly Earnings Results, Meets Expectations

Strongbridge Biopharma PLC (NASDAQ:SBBP) posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.34), MarketWatch Earnings reports. The business had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.84 million.

Shares of Strongbridge Biopharma PLC (SBBP) remained flat at $7.00 during trading on Thursday. The company had a trading volume of 5,124 shares. The firm’s market capitalization is $247.34 million. Strongbridge Biopharma PLC has a one year low of $2.00 and a one year high of $8.85. The stock’s 50 day moving average price is $6.97 and its 200-day moving average price is $4.75.

A number of large investors have recently made changes to their positions in SBBP. Northern Trust Corp bought a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at about $1,462,000. Broadfin Capital LLC increased its stake in shares of Strongbridge Biopharma PLC by 3.0% in the first quarter. Broadfin Capital LLC now owns 2,981,706 shares of the biotechnology company’s stock valued at $14,163,000 after buying an additional 87,125 shares during the period. Nexthera Capital LP bought a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at about $477,000. Vanguard Group Inc. bought a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at about $474,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Strongbridge Biopharma PLC during the second quarter valued at about $449,000.

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Several brokerages have recently weighed in on SBBP. Oppenheimer Holdings, Inc. began coverage on shares of Strongbridge Biopharma PLC in a research note on Thursday, August 10th. They set an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research cut shares of Strongbridge Biopharma PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th. HC Wainwright reaffirmed a “buy” rating on shares of Strongbridge Biopharma PLC in a research note on Wednesday, May 17th. Finally, ValuEngine raised shares of Strongbridge Biopharma PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Strongbridge Biopharma PLC presently has an average rating of “Buy” and a consensus target price of $11.94.

About Strongbridge Biopharma PLC

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.