Albireo (ALBO) Releases Earnings Results, Misses Expectations By $3.90 EPS

Albireo (NASDAQ:ALBO) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $3.75 by ($3.90), MarketWatch Earnings reports. The company had revenue of $11.20 million during the quarter, compared to analyst estimates of $55.33 million.

Shares of Albireo stock traded up $32.82 during trading hours on Friday, reaching $32.82. 68,800 shares of the company’s stock were exchanged, compared to its average volume of 69,192. Albireo has a 52-week low of $31.37 and a 52-week high of $31.37. The firm has a market cap of $402.92 million, a PE ratio of -10.42 and a beta of 1.61.

Several institutional investors have recently modified their holdings of the business. Perceptive Advisors LLC raised its position in shares of Albireo by 56.2% in the 4th quarter. Perceptive Advisors LLC now owns 1,320,000 shares of the biopharmaceutical company’s stock worth $33,792,000 after buying an additional 475,000 shares during the period. Federated Investors Inc. PA purchased a new position in shares of Albireo in the 1st quarter worth $10,094,000. Artal Group S.A. purchased a new position in shares of Albireo in the 4th quarter worth $7,680,000. BVF Inc. IL purchased a new position in shares of Albireo in the 1st quarter worth $7,328,000. Finally, Millennium Management LLC raised its position in shares of Albireo by 234.0% in the 1st quarter. Millennium Management LLC now owns 155,611 shares of the biopharmaceutical company’s stock worth $5,068,000 after buying an additional 109,017 shares during the period. 29.35% of the stock is currently owned by institutional investors.

ALBO has been the topic of a number of research reports. Zacks Investment Research upgraded Albireo from a “sell” rating to a “hold” rating in a report on Monday, March 19th. BidaskClub raised Albireo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Wedbush reaffirmed a “buy” rating on shares of Albireo in a research note on Friday, January 19th. ValuEngine raised Albireo from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Needham & Company LLC began coverage on Albireo in a research note on Thursday, March 15th. They issued a “buy” rating and a $50.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.60.

About Albireo

Albireo Pharma, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel bile acid modulators to treat orphan pediatric liver diseases and gastrointestinal (GI) disorders in the United States. Its lead product candidate includes A4250, an orally administered ileal sodium dependent bile acid transporter (IBAT) inhibitor that is in phase II clinical trial for treating progressive familial intrahepatic cholestasis and primary biliary cholangitis.

Earnings History for Albireo (NASDAQ:ALBO)

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