HC Wainwright Raises Satsuma Pharmaceuticals (NASDAQ:STSA) Price Target to $18.00

Satsuma Pharmaceuticals (NASDAQ:STSAGet Rating) had its price target increased by HC Wainwright from $15.00 to $18.00 in a research report report published on Wednesday, The Fly reports. HC Wainwright currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on STSA. Mizuho reissued a buy rating and set a $13.00 price target on shares of Satsuma Pharmaceuticals in a research report on Wednesday, June 1st. Jonestrading began coverage on shares of Satsuma Pharmaceuticals in a research report on Wednesday, August 24th. They set a buy rating and a $14.00 price target on the stock. Finally, LADENBURG THALM/SH SH began coverage on shares of Satsuma Pharmaceuticals in a research report on Wednesday, August 31st. They set a buy rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Satsuma Pharmaceuticals has an average rating of Moderate Buy and an average target price of $13.20.

Satsuma Pharmaceuticals Price Performance

Shares of STSA stock opened at $7.90 on Wednesday. The firm has a market cap of $249.54 million, a PE ratio of -4.11 and a beta of 0.50. Satsuma Pharmaceuticals has a 1-year low of $2.51 and a 1-year high of $7.98. The company has a 50-day moving average of $5.73 and a two-hundred day moving average of $4.41.

Institutional Trading of Satsuma Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in Satsuma Pharmaceuticals by 613.2% during the second quarter. UBS Group AG now owns 17,594 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 15,127 shares in the last quarter. State Street Corp raised its holdings in Satsuma Pharmaceuticals by 20.0% during the first quarter. State Street Corp now owns 43,036 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 7,176 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Satsuma Pharmaceuticals during the second quarter worth approximately $195,000. Dimensional Fund Advisors LP raised its holdings in Satsuma Pharmaceuticals by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 219,864 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 17,180 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Satsuma Pharmaceuticals during the first quarter worth approximately $995,000. Institutional investors and hedge funds own 72.03% of the company’s stock.

About Satsuma Pharmaceuticals

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Satsuma Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, developing novel therapeutic products for the acute treatment of migraines. The company's lead product candidate is STS101, a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, which is in SUMMIT Phase 3 efficacy trials and can be self-administered with proprietary pre-filled, single-use, and nasal delivery device.

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