Albireo Pharma (NASDAQ:ALBO) Downgraded by BidaskClub

BidaskClub downgraded shares of Albireo Pharma (NASDAQ:ALBO) from a sell rating to a strong sell rating in a research report report published on Saturday morning, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. William Blair reaffirmed a buy rating on shares of Albireo Pharma in a research report on Monday, July 15th. Zacks Investment Research raised shares of Albireo Pharma from a sell rating to a hold rating in a research report on Tuesday, May 14th. Wedbush reaffirmed an outperform rating and set a $69.00 price objective on shares of Albireo Pharma in a research report on Friday. ValuEngine raised shares of Albireo Pharma from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. Finally, Cowen reaffirmed a buy rating on shares of Albireo Pharma in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Albireo Pharma presently has a consensus rating of Buy and an average target price of $60.33.

ALBO opened at $22.37 on Friday. The business has a 50-day moving average of $28.46. The company has a market cap of $297.97 million, a P/E ratio of -5.68 and a beta of 1.52. Albireo Pharma has a 1-year low of $19.10 and a 1-year high of $38.69.

Albireo Pharma (NASDAQ:ALBO) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.11 million. As a group, analysts anticipate that Albireo Pharma will post -5.99 earnings per share for the current year.

Several large investors have recently made changes to their positions in ALBO. Aperio Group LLC bought a new stake in shares of Albireo Pharma during the 2nd quarter valued at about $42,000. Meeder Asset Management Inc. boosted its stake in Albireo Pharma by 796.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,026 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 1,800 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Albireo Pharma by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,328 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 2,599 shares during the period. JPMorgan Chase & Co. boosted its stake in Albireo Pharma by 27.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,836 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 614 shares during the period. Finally, Bank of America Corp DE boosted its stake in Albireo Pharma by 87.6% during the 4th quarter. Bank of America Corp DE now owns 6,469 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 3,020 shares during the period. 70.52% of the stock is owned by institutional investors and hedge funds.

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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