Albireo Pharma’s (ALBO) Buy Rating Reaffirmed at Wedbush
Wedbush reiterated their buy rating on shares of Albireo Pharma (NASDAQ:ALBO) in a report released on Wednesday morning. They currently have a $69.00 price objective on the biopharmaceutical company’s stock.
Several other equities analysts have also weighed in on ALBO. BidaskClub lowered shares of Albireo Pharma from a hold rating to a sell rating in a report on Wednesday, July 18th. Zacks Investment Research raised shares of Albireo Pharma from a hold rating to a buy rating and set a $36.00 target price for the company in a report on Tuesday, July 24th. Finally, Cowen reaffirmed a buy rating on shares of Albireo Pharma in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $59.40.
Shares of NASDAQ ALBO opened at $27.62 on Wednesday. Albireo Pharma has a 12 month low of $21.25 and a 12 month high of $39.87.
In other news, insider Ronald Harold Wilfred Cooper bought 788 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average cost of $31.85 per share, with a total value of $25,097.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in Albireo Pharma by 533.1% in the 2nd quarter. Northern Trust Corp now owns 99,819 shares of the biopharmaceutical company’s stock worth $3,544,000 after acquiring an additional 84,053 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Albireo Pharma by 205.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,263 shares of the biopharmaceutical company’s stock worth $1,145,000 after acquiring an additional 21,685 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Albireo Pharma in the 2nd quarter worth $167,000. Metropolitan Life Insurance Co. NY purchased a new stake in Albireo Pharma in the 2nd quarter worth $118,000. Finally, DRW Securities LLC purchased a new stake in Albireo Pharma in the 2nd quarter worth $320,000. 63.41% of the stock is owned by 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 includes 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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