FY2023 EPS Estimates for Satsuma Pharmaceuticals, Inc. Boosted by Analyst (NASDAQ:STSA)

Satsuma Pharmaceuticals, Inc. (NASDAQ:STSAGet Rating) – Stock analysts at SVB Leerink increased their FY2023 EPS estimates for Satsuma Pharmaceuticals in a research report issued to clients and investors on Monday, November 14th. SVB Leerink analyst M. Goodman now expects that the financial services provider will earn ($0.10) per share for the year, up from their previous forecast of ($0.80). SVB Leerink currently has a “Market Perform” rating on the stock. The consensus estimate for Satsuma Pharmaceuticals’ current full-year earnings is ($1.87) per share. SVB Leerink also issued estimates for Satsuma Pharmaceuticals’ FY2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.10) EPS and FY2026 earnings at ($0.10) EPS.

Other analysts have also recently issued research reports about the stock. Mizuho cut shares of Satsuma Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $2.00 in a research note on Tuesday. Jonestrading cut shares of Satsuma Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. HC Wainwright cut their price target on shares of Satsuma Pharmaceuticals from $18.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, LADENBURG THALM/SH SH dropped their price objective on shares of Satsuma Pharmaceuticals to $3.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Satsuma Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $7.40.

Satsuma Pharmaceuticals Trading Up 1.6 %

NASDAQ STSA opened at $0.62 on Thursday. Satsuma Pharmaceuticals has a 1-year low of $0.59 and a 1-year high of $8.08. The company has a 50 day moving average of $5.32 and a 200-day moving average of $4.71. The company has a market cap of $20.53 million, a price-to-earnings ratio of -0.31 and a beta of 0.42.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new position in shares of Satsuma Pharmaceuticals in the first quarter worth $995,000. Dimensional Fund Advisors LP raised its stake in Satsuma Pharmaceuticals by 16.8% during the third quarter. Dimensional Fund Advisors LP now owns 276,266 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 39,731 shares in the last quarter. State Street Corp raised its stake in Satsuma Pharmaceuticals by 44.6% during the third quarter. State Street Corp now owns 62,236 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 19,200 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Satsuma Pharmaceuticals in the second quarter valued at $195,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Satsuma Pharmaceuticals in the third quarter valued at $98,000. 72.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Satsuma Pharmaceuticals news, major shareholder Braden Michael Leonard purchased 5,608,306 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was bought at an average cost of $0.69 per share, with a total value of $3,869,731.14. Following the transaction, the insider now directly owns 5,608,306 shares in the company, valued at approximately $3,869,731.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 31.20% of the company’s stock.

About Satsuma Pharmaceuticals

(Get Rating)

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.

Further Reading

Earnings History and Estimates for Satsuma Pharmaceuticals (NASDAQ:STSA)

Receive News & Ratings for Satsuma Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Satsuma Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.