Guggenheim Downgrades Albireo Pharma (NASDAQ:ALBO) to Neutral

Albireo Pharma (NASDAQ:ALBOGet Rating) was downgraded by research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

A number of other research analysts have also recently issued reports on the company. Wedbush cut Albireo Pharma from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $53.00 to $42.00 in a research note on Monday. StockNews.com initiated coverage on Albireo Pharma in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Cowen cut Albireo Pharma from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $68.00 to $48.00 in a research note on Wednesday. Jefferies Financial Group cut Albireo Pharma from a “buy” rating to a “hold” rating and lowered their price objective for the company from $49.00 to $42.00 in a research note on Wednesday. Finally, HC Wainwright cut Albireo Pharma from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.00.

Albireo Pharma Stock Down 0.4 %

ALBO opened at $43.94 on Wednesday. The stock has a market cap of $909.60 million, a PE ratio of -6.54 and a beta of 0.81. The business has a 50 day moving average of $23.16 and a 200-day moving average of $21.52. Albireo Pharma has a 52 week low of $16.02 and a 52 week high of $44.36.

Albireo Pharma (NASDAQ:ALBOGet Rating) last released its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($1.89) EPS for the quarter, missing analysts’ consensus estimates of ($1.86) by ($0.03). The firm had revenue of $9.83 million during the quarter, compared to analysts’ expectations of $9.68 million. Albireo Pharma had a negative net margin of 228.51% and a negative return on equity of 97.13%. Equities analysts anticipate that Albireo Pharma will post -7.86 EPS for the current year.

Institutional Trading of Albireo Pharma

A number of institutional investors and hedge funds have recently modified their holdings of ALBO. Franklin Resources Inc. grew its holdings in shares of Albireo Pharma by 82.5% in the second quarter. Franklin Resources Inc. now owns 872,898 shares of the biopharmaceutical company’s stock worth $17,335,000 after acquiring an additional 394,595 shares during the period. MAI Capital Management grew its holdings in shares of Albireo Pharma by 18.9% in the second quarter. MAI Capital Management now owns 236,147 shares of the biopharmaceutical company’s stock worth $4,690,000 after acquiring an additional 37,496 shares during the period. M&T Bank Corp grew its holdings in shares of Albireo Pharma by 5.1% in the second quarter. M&T Bank Corp now owns 21,330 shares of the biopharmaceutical company’s stock worth $424,000 after acquiring an additional 1,030 shares during the period. Amalgamated Bank bought a new stake in shares of Albireo Pharma in the first quarter worth $78,000. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Albireo Pharma by 22.3% in the second quarter. Ensign Peak Advisors Inc now owns 6,640 shares of the biopharmaceutical company’s stock worth $132,000 after acquiring an additional 1,210 shares during the period. Institutional investors own 94.25% of the company’s stock.

About Albireo Pharma

(Get Rating)

Albireo Pharma, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and other liver or gastrointestinal diseases and disorders. The company offers Bylvay for the treatment of progressive familial intrahepatic cholestasis, as well as in Phase III clinical trial for treating biliary atresia, alagille syndrome, and rare and life-threatening disorder to children; and Elobixibat for the treatment of chronic constipation and other functional diseases.

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