In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on Strongbridge Biopharma Plc (NASDAQ: SBBP), with a price target of $15. The company’s shares closed yesterday at $6.
Singh noted:
“We are updating our Strongbridge (SBBP) price target to $15 (from $12) as we incorporate Macrilen and adjust our FY18E/19E numbers. The takeaways from our survey of 25 high-prescribing endocrinologists (>200 patients/month) are that (1) there is a high unmet need for a safe and efficacious AGHD test that is approved and on-label, (2) there are currently low levels of testing among GHD patients, (3) there are safety/efficacy concerns among the most prescribed tests (glucagon, the blinded product profile of Macrilen (see below) elicits positive reviews in >90% of respondents. Survey participants see >50% penetration in an underserved market in 3 years. Risks to the launch are cost and access. We stay bullish.”
According to TipRanks.com, Singh is a 4-star analyst with an average return of 10.5% and a 48.7% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
Strongbridge Biopharma Plc has an analyst consensus of Strong Buy, with a price target consensus of $16.67, representing a 177.8% upside. In a report issued on August 8, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $17 price target.
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Based on Strongbridge Biopharma Plc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.92 million. In comparison, last year the company had a GAAP net loss of $30.19 million.
Based on the recent corporate insider activity of 10 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
