Wedbush Analysts Give Albireo Pharma (ALBO) a $69.00 Price Target

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Albireo Pharma (NASDAQ:ALBO) has been given a $69.00 target price by equities researchers at Wedbush in a report released on Thursday, TipRanks reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Wedbush’s price target would suggest a potential upside of 103.78% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. HC Wainwright initiated coverage on Albireo Pharma in a research note on Thursday, February 28th. They set a “buy” rating and a $62.00 price objective for the company. BidaskClub upgraded Albireo Pharma from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. ValuEngine upgraded Albireo Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research lowered Albireo Pharma from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, Cowen restated a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.25.

NASDAQ ALBO traded down $0.89 during mid-day trading on Thursday, reaching $33.86. 3,756 shares of the company’s stock traded hands, compared to its average volume of 78,215. Albireo Pharma has a 1-year low of $19.10 and a 1-year high of $38.69. The firm has a market cap of $430.40 million, a PE ratio of -8.59 and a beta of 1.72.

Albireo Pharma (NASDAQ:ALBO) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.02). Albireo Pharma had a negative net margin of 2,900.81% and a negative return on equity of 47.03%. The business had revenue of $0.57 million for the quarter, compared to analyst estimates of $1.20 million. As a group, equities analysts anticipate that Albireo Pharma will post -5.99 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY grew its position in shares of Albireo Pharma by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,328 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 2,599 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Albireo Pharma by 315.3% in the 3rd quarter. Wells Fargo & Company MN now owns 4,676 shares of the biopharmaceutical company’s stock worth $154,000 after acquiring an additional 3,550 shares in the last quarter. Bank of America Corp DE grew its position in shares of Albireo Pharma by 87.6% in the 4th quarter. Bank of America Corp DE now owns 6,469 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 3,020 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Albireo Pharma in the 1st quarter worth approximately $201,000. Finally, MetLife Investment Advisors LLC grew its position in shares of Albireo Pharma by 55.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 7,312 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 2,599 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

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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Analyst Recommendations for Albireo Pharma (NASDAQ:ALBO)

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