Wedbush Reaffirms “Buy” Rating for Albireo Pharma (NASDAQ:ALBO)

Wedbush reissued their buy rating on shares of Albireo Pharma (NASDAQ:ALBO) in a report issued on Thursday, AnalystRatings.net reports. Wedbush currently has a $66.00 target price on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Albireo Pharma from $50.00 to $79.00 and gave the company a buy rating in a research report on Tuesday, September 8th. Zacks Investment Research downgraded shares of Albireo Pharma from a hold rating to a strong sell rating in a research report on Thursday, November 12th. HC Wainwright increased their price objective on shares of Albireo Pharma from $50.00 to $67.00 and gave the company a buy rating in a research report on Tuesday, September 8th. BidaskClub downgraded shares of Albireo Pharma from a hold rating to a sell rating in a research report on Tuesday, November 3rd. Finally, William Blair reaffirmed a buy rating on shares of Albireo Pharma in a research report on Monday, August 10th. Two analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $63.25.

NASDAQ ALBO opened at $35.18 on Thursday. Albireo Pharma has a one year low of $11.26 and a one year high of $49.00. The company’s 50 day moving average price is $34.47 and its 200 day moving average price is $29.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 13.51 and a current ratio of 13.52. The firm has a market capitalization of $671.13 million, a price-to-earnings ratio of -5.73 and a beta of 1.66.

Albireo Pharma (NASDAQ:ALBO) last posted its quarterly earnings results on Tuesday, November 10th. The biopharmaceutical company reported ($1.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.51) by ($0.45). Albireo Pharma had a negative net margin of 751.53% and a negative return on equity of 71.22%. Sell-side analysts forecast that Albireo Pharma will post -7.45 EPS for the current fiscal year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 400,000 shares of Albireo Pharma stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $40.00 per share, for a total transaction of $16,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martha J. Carter sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $38.97, for a total value of $389,700.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $389,700. The disclosure for this sale can be found here. Insiders have sold 20,540 shares of company stock valued at $808,048 in the last three months. Corporate insiders own 5.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ALBO. State Street Corp lifted its stake in Albireo Pharma by 13.6% during the first quarter. State Street Corp now owns 219,915 shares of the biopharmaceutical company’s stock worth $3,600,000 after purchasing an additional 26,289 shares during the last quarter. SG Americas Securities LLC bought a new stake in Albireo Pharma in the second quarter valued at $192,000. Dupont Capital Management Corp bought a new stake in Albireo Pharma in the second quarter valued at $238,000. MAI Capital Management lifted its stake in Albireo Pharma by 44.0% in the second quarter. MAI Capital Management now owns 16,680 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 5,100 shares during the last quarter. Finally, Chicago Capital LLC lifted its stake in Albireo Pharma by 1.9% in the second quarter. Chicago Capital LLC now owns 502,212 shares of the biopharmaceutical company’s stock valued at $13,304,000 after buying an additional 9,334 shares during the last quarter. Hedge funds and other institutional investors own 57.21% 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 disorders. Its lead product candidate is odevixibat, an ileal bile acid transporter (IBAT) inhibitor that is in phase III clinical trial for treating patients with progressive familial intrahepatic cholestasis, as well as for treating biliary atresia, alagille syndrome, and other cholestatic liver diseases.

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Analyst Recommendations for Albireo Pharma (NASDAQ:ALBO)

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