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

Albireo Pharma (NASDAQ:ALBO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, 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. “

Several other equities analysts have also recently weighed in on the stock. Wedbush reaffirmed a “buy” rating and issued a $84.00 price target on shares of Albireo Pharma in a research report on Monday, December 20th. Robert W. Baird restated a “buy” rating and set a $72.00 price target on shares of Albireo Pharma in a research note on Thursday, October 14th. Finally, HC Wainwright lifted their price objective on shares of Albireo Pharma from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $71.50.

NASDAQ ALBO opened at $27.14 on Thursday. The company has a quick ratio of 8.20, a current ratio of 8.20 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $24.60 and a 200 day simple moving average of $28.91. Albireo Pharma has a twelve month low of $20.30 and a twelve month high of $43.41. The company has a market capitalization of $523.23 million, a price-to-earnings ratio of -10.48 and a beta of 1.41.

Albireo Pharma (NASDAQ:ALBO) last issued its earnings results on Thursday, November 4th. The biopharmaceutical company reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $3.28. The company had revenue of $3.66 million during the quarter, compared to the consensus estimate of $22.33 million. Albireo Pharma had a negative return on equity of 82.99% and a negative net margin of 444.28%. During the same period last year, the business posted ($1.96) EPS. Research analysts expect that Albireo Pharma will post -5.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Capital LLC lifted its stake in shares of Albireo Pharma by 17.6% in the third quarter. Chicago Capital LLC now owns 819,738 shares of the biopharmaceutical company’s stock worth $25,576,000 after buying an additional 122,502 shares in the last quarter. Prosight Management LP increased its stake in shares of Albireo Pharma by 35.7% in the third quarter. Prosight Management LP now owns 445,020 shares of the biopharmaceutical company’s stock worth $13,885,000 after purchasing an additional 117,040 shares in the last quarter. Platinum Investment Management Ltd. increased its stake in shares of Albireo Pharma by 19.2% in the third quarter. Platinum Investment Management Ltd. now owns 245,381 shares of the biopharmaceutical company’s stock worth $7,656,000 after purchasing an additional 39,489 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Albireo Pharma by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 385,094 shares of the biopharmaceutical company’s stock worth $13,548,000 after purchasing an additional 32,051 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Albireo Pharma by 11.4% in the third quarter. Millennium Management LLC now owns 257,917 shares of the biopharmaceutical company’s stock worth $8,047,000 after purchasing an additional 26,363 shares in the last quarter. Institutional investors own 79.33% of the company’s stock.

About Albireo Pharma

Albireo Pharma, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders. Its pipeline products include Odevixibat, A3384, and Elobixibat.

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