Albireo Pharma (ALBO) Upgraded to “Buy” by Zacks Investment Research

Albireo Pharma (NASDAQ:ALBO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $33.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 17.82% from the company’s current price.

According to Zacks, “Albireo Pharma, Inc. is a biopharmaceutical company. It focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo Pharma Inc., formerly known as BIODEL INC., is based in Boston, United States. “

Several other brokerages also recently commented on ALBO. Wedbush reiterated a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, January 3rd. Needham & Company LLC reiterated a “buy” rating on shares of Albireo Pharma in a research note on Thursday, October 26th. Cowen reiterated a “buy” rating on shares of Albireo Pharma in a research note on Friday, November 17th. Roth Capital began coverage on Albireo Pharma in a research note on Wednesday, November 15th. They set a “buy” rating and a $92.00 target price for the company. Finally, ValuEngine downgraded Albireo Pharma from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Albireo Pharma presently has an average rating of “Buy” and an average target price of $54.50.

Albireo Pharma (NASDAQ:ALBO) traded down $0.66 during trading hours on Tuesday, hitting $28.01. The company’s stock had a trading volume of 39,800 shares, compared to its average volume of 30,991. The firm has a market cap of $249.27, a price-to-earnings ratio of 12.91 and a beta of 1.43. Albireo Pharma has a 52-week low of $15.31 and a 52-week high of $30.80.

Albireo Pharma (NASDAQ:ALBO) last issued its earnings results on Tuesday, November 14th. The biopharmaceutical company reported ($0.73) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.12. sell-side analysts predict that Albireo Pharma will post -3.42 earnings per share for the current fiscal year.

In other news, major shareholder Plc Astrazeneca sold 500,000 shares of Albireo Pharma stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $21.40, for a total transaction of $10,700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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.

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