Oppenheimer analyst Hartaj Singh maintained a Buy rating on Strongbridge Biopharma Plc (SBBP) yesterday and set a price target of $15. The company’s shares closed yesterday at $4.89.
Singh observed:
“Strongbridge reported 4Q18 sales/earnings and provided a business update to investors, which highlighted continued execution across its businesses and upcoming catalysts in 2019. Operationally, 4Q18 results fell in line with management’s revised guidance during 3Q18 and included conservative Keveyis growth estimates for 2019 ($18-$20M). With a regulatory (visibility for accelerated approval filing on SONICS data) and Phase 3 data catalyst (LOGICS in 4Q19) anticipated for Recorlev this year, we believe shares are poised for potential inflection, given current levels. We update our numbers and stay bullish.”
According to TipRanks.com, Singh is a 3-star analyst with an average return of 1.3% and a 44.2% success rate. Singh covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Actinium Pharmaceuticals, and Alexion Pharmaceuticals.
Strongbridge Biopharma Plc has an analyst consensus of Moderate Buy, with a price target consensus of $13.50, implying a 176.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $12 price target.
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Based on Strongbridge Biopharma Plc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $20.56 million. In comparison, last year the company had a GAAP net loss of $18.75 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBBP in relation to earlier this year.
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Strongbridge Biopharma Plc operates as a commercial-stage biopharmaceutical company, which focuses on the development and commercialization of therapies for rare diseases. Its pipeline is comprised of Keveyis, Macrilen, Recorlev, and Veldoreotide. The company was founded on May 26, 2015 and is headquartered in Lower Southampton, PA.
