In a report released yesterday, Hartaj Singh from Oppenheimer maintained a Buy rating on Strongbridge Biopharma Plc (NASDAQ: SBBP), with a price target of $12. The company’s shares closed yesterday at $7.80.
Singh said:
“Strongbridge (SBBP) reported 1Q18 sales/earnings and provided a business update to investors this morning. Keveyis revenues of $3.9M comfortably beat OPCO and consensus by 22% and 18%, respectively. Based on the continued strength of the relaunch (sales grew 30% Q/Q) SBBP raised full-year 2018 guidance to $18-20M (from $16-19M previously). We make minimal adjustments to our sales/earnings numbers, as it is still early in the Keveyis launch. Following a comprehensive R&D day in early April, investor focus is now turning to SONICS topline data for the launch of Macrilen in July. We revise our model slightly to account for increased interest expense and remain bullish.”
According to TipRanks.com, Singh is a 5-star analyst with an average return of 19.4% and a 52.8% success rate. Singh covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Strongbridge Biopharma Plc is Strong Buy and the average price target is $14.67, representing an 88.1% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $14 price target.
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The company has a one-year high of $9.25 and a one-year low of $4. Currently, Strongbridge Biopharma Plc has an average volume of 264.5K.
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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.
