Stock analysts at Cantor Fitzgerald began coverage on shares of Strongbridge Biopharma (NASDAQ:SBBP) in a research report issued on Tuesday, December 5th, Marketbeat Ratings reports. The firm set a “buy” rating and a $14.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 93.10% 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).””
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Strongbridge Biopharma from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Strongbridge Biopharma in a research note on Wednesday, November 15th. ValuEngine cut Strongbridge Biopharma from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Oppenheimer began coverage on Strongbridge Biopharma in a report on Thursday, August 10th. They set an “outperform” rating and a $12.00 price objective for the company. One equities research 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. The company currently has an average rating of “Buy” and a consensus price target of $12.81.
Large investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board acquired a new position in Strongbridge Biopharma during the 2nd quarter worth approximately $114,000. Rhumbline Advisers bought a new position in Strongbridge Biopharma during the 2nd quarter worth $154,000. California State Teachers Retirement System bought a new position in Strongbridge Biopharma during the 2nd quarter worth $277,000. Teachers Advisors LLC bought a new position in Strongbridge Biopharma during the 2nd quarter worth $297,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Strongbridge Biopharma during the 2nd quarter worth $331,000. 57.53% of the stock is owned by hedge funds and other institutional investors.
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Strongbridge Biopharma Company Profile
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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