Albireo Pharma (ALBO) Cut to Hold at Zacks Investment Research

Albireo Pharma (NASDAQ:ALBO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Other equities research analysts also recently issued reports about the stock. Wedbush reaffirmed a “buy” rating on shares of Albireo Pharma in a research report on Wednesday, January 3rd. Cowen reaffirmed a “buy” rating on shares of Albireo Pharma in a research report on Friday, November 17th. Roth Capital started coverage on shares of Albireo Pharma in a research report on Wednesday, November 15th. They issued a “buy” rating and a $92.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Albireo Pharma in a research report on Thursday, October 26th. Finally, ValuEngine downgraded shares of Albireo Pharma from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $54.50.

Shares of Albireo Pharma (NASDAQ ALBO) traded down $0.58 during mid-day trading on Thursday, reaching $29.79. 28,200 shares of the company’s stock were exchanged, compared to its average volume of 34,700. Albireo Pharma has a twelve month low of $15.31 and a twelve month high of $30.80. The company has a market cap of $265.11, a P/E ratio of 13.73 and a beta of 1.43.

In other news, major shareholder Plc Astrazeneca sold 500,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.40, for a total transaction of $10,700,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.30% of the stock is owned by corporate insiders.

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About Albireo Pharma

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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