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

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, Zacks.com reports. The brokerage currently has $25.00 target price 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. “

A number of other brokerages also recently commented on ALBO. Cowen reissued a buy rating on shares of Albireo Pharma in a research report on Wednesday, April 17th. ValuEngine raised shares of Albireo Pharma from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. William Blair reissued a buy rating on shares of Albireo Pharma in a research report on Monday, July 15th. Wedbush reissued an outperform rating and issued a $69.00 price objective on shares of Albireo Pharma in a research report on Friday, August 9th. Finally, HC Wainwright reissued a buy rating and issued a $62.00 price objective on shares of Albireo Pharma in a research report on Sunday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Albireo Pharma currently has an average rating of Buy and a consensus target price of $51.50.

Shares of ALBO opened at $22.22 on Tuesday. Albireo Pharma has a fifty-two week low of $19.10 and a fifty-two week high of $38.69. The firm’s 50 day moving average price is $27.95 and its 200 day moving average price is $30.52.

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

Large investors have recently made changes to their positions in the business. Aperio Group LLC purchased a new stake in shares of Albireo Pharma in the 2nd quarter valued at approximately $42,000. Meeder Asset Management Inc. increased its position in shares of Albireo Pharma by 796.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,026 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 1,800 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Albireo Pharma by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,328 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 2,599 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Albireo Pharma by 27.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,836 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 614 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Albireo Pharma by 87.6% in the 4th quarter. Bank of America Corp DE now owns 6,469 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 3,020 shares during the last quarter. 70.59% of the stock is currently owned by 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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