BidaskClub Upgrades Albireo Pharma (NASDAQ:ALBO) to Hold

BidaskClub upgraded shares of Albireo Pharma (NASDAQ:ALBO) from a sell rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

Several other equities analysts have also recently weighed in on ALBO. Cowen reiterated a buy rating and set a $39.00 price objective on shares of Albireo Pharma in a report on Thursday, March 5th. Zacks Investment Research upgraded Albireo Pharma from a hold rating to a buy rating and set a $26.00 price objective on the stock in a report on Monday, February 10th. Wedbush cut their price objective on Albireo Pharma from $69.00 to $60.00 and set an outperform rating on the stock in a report on Tuesday, March 3rd. They noted that the move was a valuation call. ValuEngine cut Albireo Pharma from a strong-buy rating to a buy rating in a report on Friday, March 13th. Finally, HC Wainwright reiterated a buy rating and set a $62.00 price objective on shares of Albireo Pharma in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $46.75.

Shares of NASDAQ:ALBO traded up $0.28 during trading on Tuesday, hitting $17.88. 81,546 shares of the company’s stock traded hands, compared to its average volume of 119,201. Albireo Pharma has a 52 week low of $11.26 and a 52 week high of $38.69. The company has a market cap of $233.46 million, a price-to-earnings ratio of -3.55 and a beta of 1.59. The company has a 50-day moving average price of $21.14 and a 200-day moving average price of $21.63.

Albireo Pharma (NASDAQ:ALBO) last released its quarterly earnings data on Monday, March 2nd. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.58) by $1.01. Albireo Pharma had a negative return on equity of 59.18% and a negative net margin of 650.86%. The business had revenue of $6.43 million for the quarter, compared to analysts’ expectations of $1.49 million. Equities analysts forecast that Albireo Pharma will post -6.13 EPS for the current year.

In other news, major shareholder Perceptive Advisors Llc bought 255,809 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $21.00 per share, for a total transaction of $5,371,989.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALBO. ArrowMark Colorado Holdings LLC lifted its stake in Albireo Pharma by 39.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 867,050 shares of the biopharmaceutical company’s stock valued at $22,040,000 after acquiring an additional 243,670 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Albireo Pharma by 141.2% in the 4th quarter. Point72 Asset Management L.P. now owns 212,030 shares of the biopharmaceutical company’s stock valued at $5,390,000 after acquiring an additional 124,124 shares in the last quarter. Bank of Montreal Can lifted its stake in Albireo Pharma by 2,704.9% in the 4th quarter. Bank of Montreal Can now owns 33,995 shares of the biopharmaceutical company’s stock valued at $864,000 after acquiring an additional 32,783 shares in the last quarter. State Street Corp lifted its stake in Albireo Pharma by 10.4% in the 3rd quarter. State Street Corp now owns 194,752 shares of the biopharmaceutical company’s stock valued at $3,895,000 after acquiring an additional 18,340 shares in the last quarter. Finally, California Public Employees Retirement System bought a new stake in Albireo Pharma in the 4th quarter valued at approximately $446,000. Hedge funds and other institutional investors own 60.25% of the company’s stock.

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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