Wedbush Reiterates “$69.00” Price Target for Albireo Pharma (NASDAQ:ALBO)

Wedbush set a $69.00 target price on Albireo Pharma (NASDAQ:ALBO) in a research note released on Thursday, Stock Target Advisor reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded Viacom from a sell rating to a hold rating in a research report on Friday, July 5th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Cowen reiterated a market perform rating and set a $99.00 target price (up previously from $97.00) on shares of United Continental in a research report on Wednesday, April 17th. William Blair reiterated an outperform rating on shares of Albireo Pharma in a research report on Thursday, May 9th. Finally, Zacks Investment Research cut Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. 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 company’s stock. The company has an average rating of Buy and an average target price of $54.25.

Shares of ALBO stock opened at $28.43 on Thursday. Albireo Pharma has a 52-week low of $19.10 and a 52-week high of $38.69. The firm has a 50-day moving average of $32.15.

Albireo Pharma (NASDAQ:ALBO) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($0.02). The company had revenue of $0.57 million during the quarter, compared to analyst estimates of $1.20 million. Albireo Pharma had a negative net margin of 2,900.81% and a negative return on equity of 47.03%. Equities analysts expect that Albireo Pharma will post -5.99 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings in Albireo Pharma by 40.2% in the 4th quarter. Rhumbline Advisers now owns 13,056 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 3,743 shares in the last quarter. Prudential Financial Inc. increased its holdings in Albireo Pharma by 5.6% in the 4th quarter. Prudential Financial Inc. now owns 26,556 shares of the biopharmaceutical company’s stock worth $652,000 after buying an additional 1,404 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Albireo Pharma by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,552 shares of the biopharmaceutical company’s stock valued at $921,000 after purchasing an additional 2,529 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Albireo Pharma by 40.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 116,223 shares of the biopharmaceutical company’s stock valued at $2,850,000 after purchasing an additional 33,390 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Albireo Pharma by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 97,434 shares of the biopharmaceutical company’s stock valued at $2,390,000 after purchasing an additional 9,922 shares during the period. Institutional investors own 70.41% of the company’s stock.

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 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.

Further Reading: What Are Cryptocurrencies?

Analyst Recommendations for Albireo Pharma (NASDAQ:ALBO)

Receive News & Ratings for Albireo Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albireo Pharma and related companies with MarketBeat.com's FREE daily email newsletter.