Albireo Pharma (NASDAQ:ALBO) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
A number of other brokerages have also commented on ALBO. Zacks Investment Research lowered Albireo Pharma from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Wedbush reiterated a “buy” rating and set a $69.00 price target on shares of Albireo Pharma in a report on Wednesday, October 17th. Cowen reiterated a “buy” rating on shares of Albireo Pharma in a report on Wednesday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Albireo Pharma in a report on Tuesday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Albireo Pharma has an average rating of “Buy” and a consensus price target of $51.25.
ALBO opened at $25.49 on Friday. Albireo Pharma has a twelve month low of $22.64 and a twelve month high of $39.87. The company has a market capitalization of $313.25 million, a P/E ratio of -8.09 and a beta of 1.80.
Albireo Pharma (NASDAQ:ALBO) last posted its earnings results on Tuesday, November 13th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.20). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $1.55 million. Analysts predict that Albireo Pharma will post -3.7 earnings per share for the current year.
In other Albireo Pharma news, insider Ronald Harold Wilfred Cooper purchased 1,026 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average cost of $25.02 per share, for a total transaction of $25,670.52. Following the completion of the acquisition, the insider now directly owns 7,760 shares in the company, valued at $194,155.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its position in shares of Albireo Pharma by 89.1% during the second quarter. Federated Investors Inc. PA now owns 586,146 shares of the biopharmaceutical company’s stock valued at $20,808,000 after purchasing an additional 276,221 shares during the period. BlackRock Inc. increased its position in shares of Albireo Pharma by 11.4% during the third quarter. BlackRock Inc. now owns 584,177 shares of the biopharmaceutical company’s stock valued at $19,255,000 after purchasing an additional 59,901 shares during the period. Prosight Management LP bought a new stake in shares of Albireo Pharma during the third quarter valued at approximately $5,369,000. Chicago Capital LLC increased its position in shares of Albireo Pharma by 18.9% during the third quarter. Chicago Capital LLC now owns 160,248 shares of the biopharmaceutical company’s stock valued at $5,282,000 after purchasing an additional 25,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Albireo Pharma by 16.2% during the second quarter. Renaissance Technologies LLC now owns 107,366 shares of the biopharmaceutical company’s stock valued at $3,811,000 after purchasing an additional 14,934 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.
Albireo Pharma Company Profile
Albireo Pharma, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and gastrointestinal (GI) disorders in the United States. Its lead product candidate includes A4250, an orally administered ileal sodium dependent bile acid transporter (IBAT) inhibitor that is in phase III clinical trial for treating progressive familial intrahepatic cholestasis and phase II clinical trial for treating biliary atresia, alagille syndrome, and other cholestatic liver diseases.
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