Satsuma Pharmaceuticals’ (NASDAQ:STSA) quiet period will end on Wednesday, October 23rd. Satsuma Pharmaceuticals had issued 5,500,000 shares in its IPO on September 13th. The total size of the offering was $82,500,000 based on an initial share price of $15.00. During Satsuma Pharmaceuticals’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
STSA has been the topic of a number of recent analyst reports. Svb Leerink initiated coverage on shares of Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating on the stock. Credit Suisse Group initiated coverage on shares of Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Leerink Swann initiated coverage on shares of Satsuma Pharmaceuticals in a research report on Tuesday, October 8th. They set an “outperform” rating and a $20.00 price target on the stock.
STSA stock opened at $9.83 on Friday. Satsuma Pharmaceuticals has a 52 week low of $8.61 and a 52 week high of $19.90.
In other Satsuma Pharmaceuticals news, major shareholder Group Holdings (Sbs) Advis Tpg acquired 100,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of $15.00 per share, with a total value of $1,500,000.00. Also, Director Rajeev M. Shah acquired 1,333,333 shares of the stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $19,999,995.00. Insiders bought a total of 1,434,333 shares of company stock worth $21,503,805 in the last ninety days. Corporate insiders own 45.65% of the company’s stock.
Satsuma Pharmaceuticals Company Profile
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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