Albireo Pharma (ALBO) Sets New 52-Week High at $29.81

Albireo Pharma, Inc. (NASDAQ:ALBO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.81 and last traded at $29.08, with a volume of 49300 shares changing hands. The stock had previously closed at $27.29.

ALBO has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Albireo Pharma in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Albireo Pharma from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, October 25th. Wedbush reaffirmed a “buy” rating on shares of Albireo Pharma in a research note on Wednesday. Cowen reaffirmed a “buy” rating on shares of Albireo Pharma in a research note on Friday, November 17th. Finally, Roth Capital started coverage on shares of Albireo Pharma in a report on Wednesday, November 15th. They issued a “buy” rating and a $92.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.75.

The company has a market cap of $258.80, a price-to-earnings ratio of 13.40 and a beta of 1.43.

In related news, major shareholder Plc Astrazeneca sold 500,000 shares of Albireo Pharma stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.40, for a total value of $10,700,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.

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