Albireo Pharma’s (ALBO) Buy Rating Reiterated at Wedbush

Wedbush restated their buy rating on shares of Albireo Pharma (NASDAQ:ALBO) in a research report sent to investors on Friday, AnalystRatings.com reports. Wedbush currently has a $62.00 price objective on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Albireo Pharma from a sell rating to a hold rating in a research note on Wednesday, August 19th. Zacks Investment Research raised shares of Albireo Pharma from a sell rating to a hold rating in a research note on Thursday, August 20th. Needham & Company LLC lifted their price target on shares of Albireo Pharma from $50.00 to $68.00 and gave the company a buy rating in a research note on Tuesday, September 8th. Jefferies Financial Group boosted their target price on shares of Albireo Pharma from $50.00 to $79.00 and gave the stock a buy rating in a research report on Tuesday, September 8th. Finally, Robert W. Baird began coverage on shares of Albireo Pharma in a research report on Wednesday, June 24th. They set an outperform rating and a $52.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $62.75.

ALBO opened at $38.90 on Friday. Albireo Pharma has a 1-year low of $11.26 and a 1-year high of $49.00. The company has a current ratio of 9.29, a quick ratio of 9.29 and a debt-to-equity ratio of 0.11. The company has a market cap of $583.15 million, a P/E ratio of -6.58 and a beta of 1.66. The company has a fifty day moving average price of $29.53 and a two-hundred day moving average price of $24.44.

Albireo Pharma (NASDAQ:ALBO) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, beating the consensus estimate of ($1.65) by $0.27. Albireo Pharma had a negative net margin of 722.91% and a negative return on equity of 82.06%. On average, research analysts forecast that Albireo Pharma will post -6.65 EPS for the current fiscal year.

In related news, insider Martha J. Carter sold 10,000 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the transaction, the insider now directly owns 9,062 shares in the company, valued at $362,751.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Life Sciences Maste Perceptive purchased 400,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $40.00 per share, for a total transaction of $16,000,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 20,580 shares of company stock valued at $806,923. 5.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in Albireo Pharma during the second quarter worth about $2,247,000. Dupont Capital Management Corp purchased a new position in Albireo Pharma during the second quarter worth about $238,000. M&T Bank Corp purchased a new position in Albireo Pharma in the second quarter valued at about $261,000. BlackRock Inc. boosted its stake in Albireo Pharma by 8.4% in the first quarter. BlackRock Inc. now owns 768,623 shares of the biopharmaceutical company’s stock valued at $12,582,000 after acquiring an additional 59,242 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Albireo Pharma in the second quarter valued at about $219,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

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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Analyst Recommendations for Albireo Pharma (NASDAQ:ALBO)

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