Wedbush Reaffirms Outperform Rating for Albireo Pharma, Inc. (ALBO)
Albireo Pharma, Inc. (NASDAQ:ALBO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Tuesday, October 24th. They presently have a $58.00 target price on the biopharmaceutical company’s stock. Wedbush’s price objective would indicate a potential upside of 123.16% from the stock’s current price.
Other research analysts have also issued research reports about the company. ValuEngine lowered Albireo Pharma from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Cowen and Company initiated coverage on Albireo Pharma in a report on Wednesday, August 16th. They issued an “outperform” rating for the company. Zacks Investment Research lowered Albireo Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Needham & Company LLC initiated coverage on Albireo Pharma in a report on Tuesday, July 18th. They issued a “buy” rating and a $35.00 target price for the company. 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 has a consensus rating of “Buy” and an average price target of $53.75.
Albireo Pharma (NASDAQ:ALBO) traded up $0.42 on Tuesday, hitting $25.99. The stock had a trading volume of 15,800 shares, compared to its average volume of 23,793. Albireo Pharma has a 52 week low of $15.31 and a 52 week high of $37.69.
Albireo Pharma (NASDAQ:ALBO) last released its earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.02). analysts expect that Albireo Pharma will post -3.6 earnings per share for the current year.
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A hedge fund recently raised its stake in Albireo Pharma stock. Renaissance Technologies LLC increased its position in Albireo Pharma, Inc. (NASDAQ:ALBO) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,632 shares of the biopharmaceutical company’s stock after acquiring an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Albireo Pharma were worth $3,591,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 27.29% of the company’s stock.
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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