Svb Leerink Initiates Coverage on Satsuma Pharmaceuticals (NASDAQ:STSA)

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Svb Leerink initiated coverage on shares of Satsuma Pharmaceuticals (NASDAQ:STSA) in a report issued on Tuesday, Briefing.com Automated Import reports. The firm issued an outperform rating on the financial services provider’s stock. Svb Leerink also issued estimates for Satsuma Pharmaceuticals’ Q3 2019 earnings at ($1.01) EPS, Q4 2019 earnings at ($0.81) EPS, FY2019 earnings at ($3.15) EPS, FY2020 earnings at ($2.55) EPS, FY2021 earnings at ($2.05) EPS, FY2022 earnings at ($2.95) EPS and FY2023 earnings at ($2.70) EPS.

Shares of STSA stock opened at $9.73 on Tuesday. Satsuma Pharmaceuticals has a 12 month low of $9.02 and a 12 month high of $19.90.

In other news, major shareholder Group Holdings (Sbs) Advis Tpg bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were acquired at an average price of $15.00 per share, with a total value of $1,500,000.00. Also, Director Rajeev M. Shah bought 1,333,333 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $19,999,995.00. Insiders have purchased a total of 1,434,333 shares of company stock worth $21,503,805 over the last 90 days. 45.65% of the stock is currently owned by corporate insiders.

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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