Satsuma Pharmaceuticals (NASDAQ:STSA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Satsuma Pharmaceuticals (NASDAQ:STSA) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Satsuma Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It develops novel therapeutic products for the acute treatment of migraine. The company’s product consists of STS101, which are in clinical stage. Satsuma Pharmaceuticals Inc. is based in San Francisco, United States. “

A number of other research firms have also weighed in on STSA. Svb Leerink began coverage on Satsuma Pharmaceuticals in a research note on Tuesday, October 8th. They issued an outperform rating for the company. Credit Suisse Group began coverage on Satsuma Pharmaceuticals in a research note on Tuesday, October 8th. They issued an outperform rating and a $16.00 target price for the company. Finally, Leerink Swann began coverage on Satsuma Pharmaceuticals in a research note on Tuesday, October 8th. They issued an outperform rating and a $20.00 target price for the company.

Shares of STSA traded up $2.08 during midday trading on Wednesday, reaching $13.93. The stock had a trading volume of 72,570 shares, compared to its average volume of 55,906. The business has a 50-day moving average price of $14.69. Satsuma Pharmaceuticals has a 12-month low of $8.61 and a 12-month high of $19.90.

Satsuma Pharmaceuticals (NASDAQ:STSA) last posted its quarterly earnings data on Tuesday, November 12th. The financial services provider reported ($2.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($1.25). Research analysts expect that Satsuma Pharmaceuticals will post -9.36 EPS for the current fiscal year.

In other Satsuma Pharmaceuticals news, Director Rajeev M. Shah purchased 1,333,333 shares of the stock in a transaction on Tuesday, September 17th. The stock was acquired at an average price of $15.00 per share, with a total value of $19,999,995.00. Also, major shareholder Group Holdings (Sbs) Advis Tpg purchased 100,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were acquired at an average cost of $15.00 per share, with a total value of $1,500,000.00. Corporate insiders own 45.65% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zimmer Partners LP bought a new position in Satsuma Pharmaceuticals during the 3rd quarter valued at approximately $1,501,000. TPG Group Holdings SBS Advisors Inc. bought a new position in Satsuma Pharmaceuticals during the 3rd quarter valued at approximately $28,308,000. Eventide Asset Management LLC bought a new position in Satsuma Pharmaceuticals during the 3rd quarter valued at approximately $6,379,000. Teacher Retirement System of Texas bought a new position in Satsuma Pharmaceuticals during the 3rd quarter valued at approximately $150,000. Finally, Dean Capital Investments Management LLC bought a new position in Satsuma Pharmaceuticals during the 3rd quarter valued at approximately $533,000. 77.38% of the stock is owned by institutional investors and hedge funds.

Satsuma Pharmaceuticals Company Profile

Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops a novel therapeutic product for the acute treatment of migraine. Its product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in Phase III clinical trials and can be self-administered with a proprietary pre-filled single-use nasal delivery device.

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