Satsuma Pharmaceuticals (NASDAQ:STSA) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Satsuma Pharmaceuticals (NASDAQ:STSA) from a buy rating to a hold rating in a report published on Friday 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. “

Other equities research analysts have also issued reports about the stock. Credit Suisse Group reiterated a buy rating and set a $32.00 price target on shares of Satsuma Pharmaceuticals in a report on Wednesday, May 6th. Mizuho reaffirmed a buy rating and set a $32.00 price objective on shares of Satsuma Pharmaceuticals in a research note on Tuesday, May 12th. SVB Leerink raised their target price on Satsuma Pharmaceuticals from $20.00 to $35.00 and gave the stock an outperform rating in a research note on Wednesday, March 11th. Finally, ValuEngine raised Satsuma Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $31.25.

Shares of Satsuma Pharmaceuticals stock traded up $0.04 on Friday, hitting $25.98. 16,992 shares of the company traded hands, compared to its average volume of 52,288. Satsuma Pharmaceuticals has a 12-month low of $8.61 and a 12-month high of $33.48. The company has a current ratio of 15.05, a quick ratio of 15.05 and a debt-to-equity ratio of 0.02. The company has a market cap of $451.08 million and a P/E ratio of -5.41. The firm’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $19.83.

Satsuma Pharmaceuticals (NASDAQ:STSA) last released its earnings results on Tuesday, May 12th. The financial services provider reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.01). Analysts predict that Satsuma Pharmaceuticals will post -2.9 earnings per share for the current year.

In other Satsuma Pharmaceuticals news, CFO Thomas P. O’neil sold 2,000 shares of Satsuma Pharmaceuticals stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $50,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Detlef Albrecht sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $27.42, for a total value of $27,420.00. Following the transaction, the insider now owns 21,212 shares in the company, valued at approximately $581,633.04. The disclosure for this sale can be found here. Insiders sold a total of 5,000 shares of company stock valued at $117,470 over the last 90 days. Company insiders own 45.65% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eventide Asset Management LLC lifted its position in Satsuma Pharmaceuticals by 131.4% during the first quarter. Eventide Asset Management LLC now owns 983,382 shares of the financial services provider’s stock valued at $20,562,000 after buying an additional 558,382 shares during the period. Ghost Tree Capital LLC bought a new position in shares of Satsuma Pharmaceuticals in the 1st quarter worth about $2,475,000. Geode Capital Management LLC bought a new stake in Satsuma Pharmaceuticals during the fourth quarter worth about $1,269,000. Janus Henderson Group PLC boosted its stake in Satsuma Pharmaceuticals by 369.8% during the first quarter. Janus Henderson Group PLC now owns 64,376 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 50,672 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Satsuma Pharmaceuticals by 30.6% in the first quarter. BlackRock Inc. now owns 213,612 shares of the financial services provider’s stock worth $4,597,000 after purchasing an additional 50,079 shares during the period. Institutional investors and hedge funds own 77.86% of the company’s stock.

About Satsuma Pharmaceuticals

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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