Zacks Investment Research Downgrades Albireo Pharma, Inc. (ALBO) to Hold
Albireo Pharma, Inc. (NASDAQ:ALBO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, November 13th.
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. “
ALBO has been the subject of a number of other reports. Cowen and Company assumed coverage on shares of Albireo Pharma in a research report on Wednesday, August 16th. They set an “outperform” rating for the company. Needham & Company LLC restated a “buy” rating on shares of Albireo Pharma in a research report on Thursday, October 26th. ValuEngine cut shares of Albireo Pharma from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of Albireo Pharma in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Albireo Pharma has a consensus rating of “Buy” and a consensus target price of $53.75.
Albireo Pharma (NASDAQ ALBO) traded up $0.42 during midday trading on Monday, hitting $25.99. 15,800 shares of the company’s stock were exchanged, compared to its average volume of 23,793. Albireo Pharma has a 12-month low of $15.31 and a 12-month high of $37.69.
Albireo Pharma (NASDAQ:ALBO) last posted its earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.02). sell-side analysts expect that Albireo Pharma will post -3.6 EPS for the current year.
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An institutional investor recently raised its position in Albireo Pharma stock. Renaissance Technologies LLC grew its position in Albireo Pharma, Inc. (NASDAQ:ALBO) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,632 shares of the biopharmaceutical company’s stock after acquiring an additional 794 shares during the quarter. Renaissance Technologies LLC’s holdings in Albireo Pharma were worth $3,591,000 at the end of the most recent reporting period. Institutional investors own 27.29% of the company’s stock.
Albireo Pharma Company Profile
Biodel Inc is a specialty biopharmaceutical company. The Company focuses on the development and commercialization of treatments for diabetes. The Company is engaged in developing product candidates by applying its formulation technologies to existing drugs. The Company is engaged in developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia.
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