Zacks Investment Research Downgrades Albireo Pharma (ALBO) to Sell

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Zacks Investment Research cut shares of Albireo Pharma (NASDAQ:ALBO) from a hold rating to a sell rating in a research report sent to investors 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. “

Several other brokerages have also recently issued reports on ALBO. BidaskClub raised Albireo Pharma from a hold rating to a buy rating in a research report on Wednesday, March 6th. Wedbush set a $69.00 target price on Albireo Pharma and gave the company a buy rating in a research report on Sunday, March 10th. ValuEngine raised Albireo Pharma from a hold rating to a buy rating in a research report on Thursday, February 28th. HC Wainwright assumed coverage on Albireo Pharma in a research report on Thursday, February 28th. They set a buy rating and a $62.00 target price on the stock. Finally, Cowen reaffirmed a buy rating on shares of Albireo Pharma in a research report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $53.40.

Shares of NASDAQ:ALBO opened at $30.39 on Monday. The company 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 12-month low of $19.10 and a 12-month 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.16) by ($0.18). The company had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $1.94 million. Albireo Pharma had a negative net margin of 361.94% and a negative return on equity of 32.42%. As a group, research analysts forecast that Albireo Pharma will post -5.59 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY boosted 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 worth $82,000 after purchasing an additional 2,599 shares during the last quarter. Wells Fargo & Company MN boosted its position in Albireo Pharma by 315.3% in the third quarter. Wells Fargo & Company MN now owns 4,676 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 3,550 shares during the last quarter. Bank of America Corp DE boosted 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 worth $159,000 after purchasing an additional 3,020 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in Albireo Pharma by 55.1% in the third quarter. MetLife Investment Advisors LLC now owns 7,312 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 2,599 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Albireo Pharma by 83.3% in the third quarter. Acadian Asset Management LLC now owns 8,513 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 3,868 shares during the last quarter. 67.14% of the stock is currently owned by institutional investors and hedge funds.

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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