Strongbridge Biopharma (NASDAQ:SBBP)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Monday. They currently have a $14.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 84.21% from the company’s current price.
The analysts wrote, “Added Focus on RECORLEV into Mid-2108. Ahead of the mid-2018 SONICS top-line readout, we anticipate greater attention to shift towards the RECORLEV opportunity in Cushing’s syndrome. As a reminder, we believe Recorlev has demonstrated greater control over cortisol secretion over ketoconazole with fewer liabilities associated with liver enzyme elevations. Strongbridge plans to host an investor and analyst day on April 5, 2018, to discuss these opportunities and development progress. Following SONICS we anticipate data from LOGICS in 1Q19, a slight slippage from 4Q18, previously.””
Several other equities research analysts have also commented on SBBP. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Strongbridge Biopharma in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Strongbridge Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, BidaskClub upgraded shares of Strongbridge Biopharma from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.81.
A number of hedge funds have recently made changes to their positions in SBBP. Paloma Partners Management Co acquired a new position in Strongbridge Biopharma in the 4th quarter valued at about $152,000. Goldman Sachs Group Inc. acquired a new position in Strongbridge Biopharma in the 4th quarter valued at about $272,000. California State Teachers Retirement System acquired a new position in Strongbridge Biopharma in the 2nd quarter valued at about $277,000. Teachers Advisors LLC acquired a new position in Strongbridge Biopharma in the 2nd quarter valued at about $297,000. Finally, Wells Fargo & Company MN raised its stake in Strongbridge Biopharma by 1,130.4% in the 4th quarter. Wells Fargo & Company MN now owns 44,640 shares of the biotechnology company’s stock valued at $324,000 after purchasing an additional 41,012 shares during the last quarter. 65.31% of the stock is owned by hedge funds and other institutional investors.
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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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