Zacks Investment Research upgraded shares of Albireo Pharma (NASDAQ:ALBO) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $30.00 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. “
Other equities research analysts also recently issued research reports about the company. Robert W. Baird reaffirmed a buy rating and set a $72.00 price objective on shares of Albireo Pharma in a research report on Thursday, October 14th. HC Wainwright raised their price objective on Albireo Pharma from $79.00 to $80.00 and gave the company a buy rating in a research report on Friday, November 5th. Finally, Wedbush reaffirmed a buy rating and set a $84.00 price objective on shares of Albireo Pharma in a research report on Monday, December 20th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $71.50.
Albireo Pharma (NASDAQ:ALBO) last announced its quarterly earnings results on Thursday, November 4th. The biopharmaceutical company reported $2.90 EPS for the quarter, beating the consensus estimate of ($0.38) by $3.28. Albireo Pharma had a negative return on equity of 82.99% and a negative net margin of 444.28%. The firm had revenue of $3.66 million for the quarter, compared to analyst estimates of $22.33 million. During the same quarter last year, the firm posted ($1.96) earnings per share. Analysts forecast that Albireo Pharma will post -5.57 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ALBO. Advisor Group Holdings Inc. boosted its holdings in Albireo Pharma by 2,151.5% in the third quarter. Advisor Group Holdings Inc. now owns 2,184 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 2,087 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Albireo Pharma by 90,960.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 4,553 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 4,548 shares in the last quarter. Invesco Ltd. acquired a new stake in Albireo Pharma in the second quarter worth about $205,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Albireo Pharma by 36.2% during the third quarter. BNP Paribas Arbitrage SA now owns 6,928 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 1,843 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Albireo Pharma by 195.0% during the third quarter. Barclays PLC now owns 6,957 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 4,599 shares during the period. 79.33% of the stock is owned by institutional investors and hedge funds.
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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