Albireo Pharma (NASDAQ:ALBO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Albireo Pharma (NASDAQ:ALBO) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Albireo Pharma, Inc. is a biopharmaceutical company. It focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo Pharma Inc., formerly known as BIODEL INC., is based in Boston, United States. “

Other equities research analysts also recently issued reports about the company. HC Wainwright reaffirmed a buy rating and set a $62.00 target price on shares of Albireo Pharma in a report on Sunday, August 11th. BidaskClub downgraded Albireo Pharma from a sell rating to a strong sell rating in a report on Saturday, August 10th. Cowen reaffirmed a buy rating on shares of Albireo Pharma in a report on Wednesday, April 17th. Wedbush reaffirmed an outperform rating and set a $69.00 target price on shares of Albireo Pharma in a report on Friday, August 9th. Finally, ValuEngine raised Albireo Pharma from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $51.50.

Shares of NASDAQ ALBO opened at $23.43 on Wednesday. Albireo Pharma has a 12 month low of $19.10 and a 12 month high of $38.69. The business has a fifty day simple moving average of $27.79 and a 200-day simple moving average of $30.48.

Albireo Pharma (NASDAQ:ALBO) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) EPS for the quarter, beating the consensus estimate of ($1.44) by $0.09. Albireo Pharma had a negative return on equity of 51.74% and a negative net margin of 2,403.88%. The business had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.11 million. On average, research analysts anticipate that Albireo Pharma will post -5.91 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Federated Investors Inc. PA lifted its stake in Albireo Pharma by 22.8% in the 1st quarter. Federated Investors Inc. PA now owns 719,595 shares of the biopharmaceutical company’s stock worth $23,178,000 after acquiring an additional 133,449 shares in the last quarter. BlackRock Inc. lifted its stake in Albireo Pharma by 14.7% in the 2nd quarter. BlackRock Inc. now owns 658,767 shares of the biopharmaceutical company’s stock worth $21,239,000 after acquiring an additional 84,575 shares in the last quarter. Chicago Capital LLC lifted its stake in Albireo Pharma by 6.8% in the 2nd quarter. Chicago Capital LLC now owns 202,241 shares of the biopharmaceutical company’s stock worth $6,520,000 after acquiring an additional 12,833 shares in the last quarter. Man Group plc lifted its stake in Albireo Pharma by 770.4% in the 2nd quarter. Man Group plc now owns 189,500 shares of the biopharmaceutical company’s stock worth $6,109,000 after acquiring an additional 167,729 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Albireo Pharma by 10.1% in the 2nd quarter. Vanguard Group Inc. now owns 177,647 shares of the biopharmaceutical company’s stock worth $5,727,000 after acquiring an additional 16,236 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

About Albireo Pharma

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 is 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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