Albireo (ALBO) Posts Earnings Results, Misses Expectations By $3.90 EPS

Albireo (NASDAQ:ALBO) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.75 by ($3.90), MarketWatch Earnings reports. The firm had revenue of $11.20 million for the quarter, compared to analyst estimates of $55.33 million.

Albireo opened at $32.86 on Friday, MarketBeat Ratings reports. Albireo has a 52 week low of $15.31 and a 52 week high of $39.87.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Albireo from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. BidaskClub raised shares of Albireo from a “hold” rating to a “buy” rating in a research report on Tuesday, March 20th. ValuEngine raised shares of Albireo from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Needham & Company LLC assumed coverage on shares of Albireo in a research report on Thursday, March 15th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $63.00 price target on shares of Albireo in a research report on Wednesday, March 28th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.60.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Albireo by 282.1% in the fourth quarter. Wells Fargo & Company MN now owns 6,350 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 4,688 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Albireo in the fourth quarter worth approximately $216,000. Ardsley Advisory Partners acquired a new position in Albireo in the fourth quarter worth approximately $289,000. Element Capital Management LLC acquired a new position in Albireo in the first quarter worth approximately $335,000. Finally, Northern Trust Corp increased its holdings in Albireo by 60.3% in the first quarter. Northern Trust Corp now owns 15,766 shares of the biopharmaceutical company’s stock worth $513,000 after buying an additional 5,932 shares during the last quarter. Hedge funds and other institutional investors own 29.35% of the company’s stock.

About Albireo

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 II clinical trial for treating progressive familial intrahepatic cholestasis and primary biliary cholangitis.

Earnings History for Albireo (NASDAQ:ALBO)

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