Wedbush Reaffirms Buy Rating for Albireo Pharma (ALBO)

Albireo Pharma (NASDAQ:ALBO)‘s stock had its “buy” rating reiterated by investment analysts at Wedbush in a report released on Wednesday.

The analysts wrote, “Zynerba updated its plans to focus development on rare and near-rare neurological and psychiatric disorders.””

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Albireo Pharma from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Needham & Company LLC restated a “buy” rating on shares of Albireo Pharma in a research report on Thursday, October 26th. Roth Capital assumed coverage on shares of Albireo Pharma in a research report on Wednesday, November 15th. They issued a “buy” rating and a $92.00 price target on the stock. Zacks Investment Research lowered shares of Albireo Pharma from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Cowen restated a “buy” rating on shares of Albireo Pharma in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Albireo Pharma currently has a consensus rating of “Buy” and an average price target of $53.75.

Shares of Albireo Pharma (NASDAQ ALBO) traded up $0.51 during trading hours on Wednesday, reaching $27.29. The company had a trading volume of 23,757 shares, compared to its average volume of 18,750. Albireo Pharma has a 1 year low of $15.31 and a 1 year high of $29.20. The company has a market capitalization of $238.33, a PE ratio of 12.58 and a beta of 1.43.

In other news, major shareholder Plc Astrazeneca sold 500,000 shares of the business’s stock in a transaction 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 legal filing with the SEC, which can be accessed through this link. Insiders own 22.30% of the company’s stock.

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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.

Analyst Recommendations for Albireo Pharma (NASDAQ:ALBO)

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