Albireo Pharma (NASDAQ:ALBO) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Albireo Pharma (NASDAQ:ALBO) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. They currently have $25.00 price objective on the biopharmaceutical company’s stock.

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. “

ALBO has been the subject of a number of other research reports. BidaskClub cut shares of Albireo Pharma from a sell rating to a strong sell rating in a research note on Saturday, August 10th. ValuEngine raised shares of Albireo Pharma from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. William Blair reissued a buy rating on shares of Albireo Pharma in a research note on Monday, July 15th. Wedbush reissued an outperform rating and set a $69.00 target price on shares of Albireo Pharma in a research note on Friday, August 9th. Finally, HC Wainwright reissued a buy rating and set a $62.00 target price on shares of Albireo Pharma in a research note on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $51.50.

ALBO stock opened at $22.22 on Tuesday. The firm has a 50-day simple moving average of $27.95 and a 200-day simple moving average of $30.52. Albireo Pharma has a 52 week low of $19.10 and a 52 week high of $38.69.

Albireo Pharma (NASDAQ:ALBO) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) EPS for the quarter, topping analysts’ consensus estimates of ($1.44) by $0.09. The business had revenue of $1.25 million during the quarter, compared to analysts’ expectations of $1.11 million. Albireo Pharma had a negative net margin of 2,403.88% and a negative return on equity of 51.74%. As a group, equities analysts anticipate that Albireo Pharma will post -5.91 EPS for the current fiscal year.

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

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 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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