Zacks Investment Research Downgrades Albireo Pharma (ALBO) to Sell

Zacks Investment Research lowered shares of Albireo Pharma (NASDAQ:ALBO) from a hold rating to a sell rating in a research note published on Monday.

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. “

A number of other equities analysts have also weighed in on the company. BidaskClub upgraded Albireo Pharma from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd. Wedbush restated a buy rating and issued a $69.00 target price on shares of Albireo Pharma in a research note on Friday, January 25th. HC Wainwright started coverage on Albireo Pharma in a research note on Thursday, February 28th. They issued a buy rating and a $62.00 target price on the stock. Cowen restated a buy rating on shares of Albireo Pharma in a research note on Wednesday, November 14th. Finally, ValuEngine lowered Albireo Pharma from a buy rating to a hold rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $53.40.

NASDAQ:ALBO opened at $30.39 on Monday. The firm has a market cap of $352.84 million, a P/E ratio of -7.71 and a beta of 1.70. Albireo Pharma has a 52-week low of $19.10 and a 52-week high of $39.35.

Albireo Pharma (NASDAQ:ALBO) last announced its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). The business had revenue of $0.57 million during the quarter, compared to the consensus estimate of $1.94 million. Albireo Pharma had a negative return on equity of 32.42% and a negative net margin of 361.94%. On average, research analysts anticipate that Albireo Pharma will post -5.59 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fosun International Ltd bought a new position in shares of Albireo Pharma during the 4th quarter valued at about $4,492,000. Prosight Management LP bought a new position in shares of Albireo Pharma during the 3rd quarter valued at about $5,369,000. Northern Trust Corp increased its position in shares of Albireo Pharma by 533.1% during the 2nd quarter. Northern Trust Corp now owns 99,819 shares of the biopharmaceutical company’s stock valued at $3,544,000 after purchasing an additional 84,053 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Albireo Pharma by 518.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 82,833 shares of the biopharmaceutical company’s stock valued at $2,730,000 after purchasing an additional 69,431 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Albireo Pharma by 11.4% during the 3rd quarter. BlackRock Inc. now owns 584,177 shares of the biopharmaceutical company’s stock valued at $19,255,000 after purchasing an additional 59,901 shares during the last quarter. Institutional investors and hedge funds own 67.14% of the company’s stock.

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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