Albireo Pharma (ALBO) Trading 7% Higher

Albireo Pharma Inc (NASDAQ:ALBO) traded up 7% during trading on Wednesday . The company traded as high as $37.48 and last traded at $38.40. 1,371 shares were traded during mid-day trading, a decline of 96% from the average session volume of 39,011 shares. The stock had previously closed at $35.90.

A number of equities research analysts recently commented on the company. ValuEngine upgraded Albireo Pharma from a “buy” rating to a “strong-buy” rating in a report on Friday, April 26th. BidaskClub upgraded Albireo Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Cowen reissued a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, April 17th. Zacks Investment Research cut Albireo Pharma from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, Wedbush reissued a “buy” rating and issued a $69.00 target price on shares of Albireo Pharma in a research note on Friday, January 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Albireo Pharma has an average rating of “Buy” and a consensus price target of $54.25.

The company has a market cap of $404.52 million, a PE ratio of -9.69 and a beta of 1.72.

Albireo Pharma (NASDAQ:ALBO) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.20 million. Research analysts predict that Albireo Pharma Inc will post -6.02 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its position in shares of Albireo Pharma by 356.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,328 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 2,599 shares during the period. Wells Fargo & Company MN boosted its position in shares of Albireo Pharma by 315.3% during the third quarter. Wells Fargo & Company MN now owns 4,676 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 3,550 shares during the period. Bank of America Corp DE boosted its position in shares of Albireo Pharma by 87.6% during the fourth quarter. Bank of America Corp DE now owns 6,469 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 3,020 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Albireo Pharma by 55.1% during the third quarter. MetLife Investment Advisors LLC now owns 7,312 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 2,599 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Albireo Pharma by 29.5% during the first quarter. State of Wisconsin Investment Board now owns 12,300 shares of the biopharmaceutical company’s stock worth $396,000 after buying an additional 2,800 shares during the period. 66.85% of the stock is owned by institutional investors.

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About Albireo Pharma (NASDAQ:ALBO)

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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