Albireo Pharma (NASDAQ:ALBO) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Albireo Pharma (NASDAQ:ALBO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, 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. “

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



Shares of Albireo Pharma stock traded down $0.29 during trading hours on Wednesday, reaching $23.24. 147 shares of the company’s stock were exchanged, compared to its average volume of 43,345. Albireo Pharma has a 1 year low of $19.10 and a 1 year high of $38.69. The stock has a market capitalization of $283.77 million, a P/E ratio of -5.89 and a beta of 1.52. The firm has a fifty day moving average price of $28.12.

Albireo Pharma (NASDAQ:ALBO) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, topping the Zacks’ 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 51.13%. The business had revenue of $1.25 million during the quarter, compared to analyst estimates of $1.11 million. As a group, analysts anticipate that Albireo Pharma will post -5.87 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Albireo Pharma by 7.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,552 shares of the biopharmaceutical company’s stock valued at $921,000 after buying an additional 2,529 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Albireo Pharma by 40.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 116,223 shares of the biopharmaceutical company’s stock valued at $2,850,000 after buying an additional 33,390 shares during the last quarter. Geode Capital Management LLC lifted its position in Albireo Pharma by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 97,434 shares of the biopharmaceutical company’s stock valued at $2,390,000 after buying an additional 9,922 shares during the last quarter. Bank of America Corp DE lifted its position in Albireo Pharma by 87.6% in the fourth 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. Finally, Metropolitan Life Insurance Co. NY lifted its position in Albireo Pharma by 356.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,328 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 2,599 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other 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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