Brickell Biotech (NASDAQ:BBI) Downgraded to “Hold” at Zacks Investment Research

Brickell Biotech (NASDAQ:BBIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Brickell Biotech, Inc. is a clinical-stage pharmaceutical company. It is focused on developing prescription therapeutics for treatment of skin diseases. The company’s pipeline consists of therapeutics for hyperhidrosis, cutaneous T-cell lymphoma, psoriasis, and other prevalent severe skin diseases. Its products include Prozac(R), Gemzar(R), Cialis(R), Evista(R), Talz(R), Humulin(R), Cymbalta(R), Dysport(R), Juvederm(R) and Kybella(R). Brickell Biotech Inc., formerly known as Vical Incorporated, is based in San Diego, United States. “

Several other analysts also recently weighed in on the company. HC Wainwright started coverage on Brickell Biotech in a research note on Tuesday, January 18th. They issued a “buy” rating and a $2.00 price target on the stock. William Blair started coverage on Brickell Biotech in a research report on Tuesday, March 8th. They issued an “outperform” rating on the stock.

Shares of Brickell Biotech stock traded up $0.00 during midday trading on Tuesday, hitting $0.21. The company had a trading volume of 3,210,955 shares, compared to its average volume of 8,052,181. The stock has a market capitalization of $25.57 million, a P/E ratio of -0.40 and a beta of 0.12. The company has a 50 day moving average of $0.26 and a 200 day moving average of $0.28. Brickell Biotech has a 52-week low of $0.20 and a 52-week high of $1.04.

Brickell Biotech (NASDAQ:BBIGet Rating) last posted its quarterly earnings results on Tuesday, March 15th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.21 million. Brickell Biotech had a negative return on equity of 163.84% and a negative net margin of 9,770.79%. During the same quarter in the prior year, the business posted ($0.15) EPS. As a group, equities analysts expect that Brickell Biotech will post -0.2 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BBI. BlackRock Inc. lifted its holdings in shares of Brickell Biotech by 69.2% during the 3rd quarter. BlackRock Inc. now owns 63,544 shares of the company’s stock valued at $46,000 after buying an additional 25,985 shares during the period. Morgan Stanley lifted its holdings in shares of Brickell Biotech by 142.0% during the 1st quarter. Morgan Stanley now owns 75,404 shares of the company’s stock valued at $82,000 after buying an additional 44,248 shares during the period. Citadel Advisors LLC bought a new position in shares of Brickell Biotech during the 2nd quarter valued at $76,000. Two Sigma Investments LP lifted its holdings in shares of Brickell Biotech by 277.2% during the 3rd quarter. Two Sigma Investments LP now owns 90,085 shares of the company’s stock valued at $65,000 after buying an additional 66,200 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Brickell Biotech during the 4th quarter valued at $51,000. 14.99% of the stock is currently owned by institutional investors and hedge funds.

About Brickell Biotech (Get Rating)

Brickell Biotech, Inc, a clinical-stage pharmaceutical company, engages in the development of various prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases in the United States. The company develops sofpironium bromide, which has completed Phase III clinical trials for the treatment of primary axillary hyperhidrosis; BBI-02, an oral DYRK1A inhibitor for the treatment of autoimmune and inflammatory diseases; and BBI-10, a covalent stimulator of interferon genes inhibitor for the potential treatment of autoinflammatory and rare genetic diseases, as well as next-generation kinase inhibitors.

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