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Albireo Pharma (NASDAQ:ALBO) Downgraded to Hold at Zacks Investment Research

Last updated on Tuesday, August 11th, 2020 by MarketBeat

Albireo Pharma (NASDAQ:ALBO) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 stock. Robert W. Baird began coverage on shares of Albireo Pharma in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 target price for the company. HC Wainwright upped their target price on shares of Albireo Pharma from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. They noted that the move was a valuation call. BidaskClub lowered shares of Albireo Pharma from a "hold" rating to a "sell" rating in a research note on Saturday. Wedbush reaffirmed an "outperform" rating on shares of Albireo Pharma in a research note on Wednesday, June 17th. Finally, Piper Sandler began coverage on shares of Albireo Pharma in a research report on Thursday, July 30th. They set an "overweight" rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Albireo Pharma has an average rating of "Buy" and a consensus target price of $48.29.

Shares of ALBO stock traded up $0.14 on Tuesday, hitting $26.81. The stock had a trading volume of 3,255 shares, compared to its average volume of 156,305. The firm has a market cap of $402.18 million, a P/E ratio of -4.54 and a beta of 1.89. Albireo Pharma has a twelve month low of $11.26 and a twelve month high of $31.50. The company has a fifty day moving average price of $26.22 and a two-hundred day moving average price of $23.15.

Albireo Pharma (NASDAQ:ALBO) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, topping the Zacks' 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 79.34%. Research analysts expect that Albireo Pharma will post -6.95 earnings per share for the current year.

Several large investors have recently bought and sold shares of ALBO. UBS Group AG boosted its stake in shares of Albireo Pharma by 64.7% during the 4th quarter. UBS Group AG now owns 16,407 shares of the biopharmaceutical company's stock worth $417,000 after acquiring an additional 6,445 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Albireo Pharma by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 36,315 shares of the biopharmaceutical company's stock worth $923,000 after acquiring an additional 2,750 shares during the period. Geode Capital Management LLC boosted its stake in shares of Albireo Pharma by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 142,213 shares of the biopharmaceutical company's stock worth $3,615,000 after acquiring an additional 8,815 shares during the period. Chicago Capital LLC boosted its stake in shares of Albireo Pharma by 181.2% during the 1st quarter. Chicago Capital LLC now owns 492,878 shares of the biopharmaceutical company's stock worth $8,068,000 after acquiring an additional 317,589 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Albireo Pharma by 8.4% during the 1st quarter. BlackRock Inc. now owns 768,623 shares of the biopharmaceutical company's stock worth $12,582,000 after acquiring an additional 59,242 shares during the period. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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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