$1.65 Million in Sales Expected for Albireo Pharma Inc (ALBO) This Quarter

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Wall Street brokerages predict that Albireo Pharma Inc (NASDAQ:ALBO) will post sales of $1.65 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Albireo Pharma’s earnings, with the highest sales estimate coming in at $3.00 million and the lowest estimate coming in at $850,000.00. Albireo Pharma posted sales of $11.20 million during the same quarter last year, which would suggest a negative year over year growth rate of 85.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, May 16th.

On average, analysts expect that Albireo Pharma will report full year sales of $9.09 million for the current financial year, with estimates ranging from $4.85 million to $20.00 million. For the next fiscal year, analysts expect that the business will report sales of $24.05 million, with estimates ranging from $5.34 million to $42.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Albireo Pharma.

Albireo Pharma (NASDAQ:ALBO) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.18). Albireo Pharma had a negative net margin of 361.94% and a negative return on equity of 32.42%. The company had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $1.94 million.

A number of equities research analysts have issued reports on the company. ValuEngine upgraded Albireo Pharma from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Cowen reiterated a “buy” rating on shares of Albireo Pharma in a report on Wednesday. BidaskClub upgraded Albireo Pharma from a “hold” rating to a “buy” rating in a report on Wednesday, March 6th. Zacks Investment Research downgraded Albireo Pharma from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Finally, Wedbush set a $69.00 price target on Albireo Pharma and gave the stock a “buy” rating in a report on Sunday, March 10th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.40.

ALBO stock traded down $1.14 during midday trading on Friday, reaching $31.84. 3,413 shares of the company traded hands, compared to its average volume of 36,987. Albireo Pharma has a 52-week low of $19.10 and a 52-week high of $37.95. The company has a market cap of $394.46 million, a PE ratio of -8.08 and a beta of 1.72.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Albireo Pharma by 11.4% in the third quarter. BlackRock Inc. now owns 584,177 shares of the biopharmaceutical company’s stock worth $19,255,000 after buying an additional 59,901 shares during the period. Alps Advisors Inc. increased its holdings in Albireo Pharma by 30.6% during the 4th quarter. Alps Advisors Inc. now owns 27,659 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 6,478 shares during the period. Fosun International Ltd purchased a new position in Albireo Pharma during the 4th quarter worth $4,492,000. Bank of New York Mellon Corp increased its holdings in Albireo Pharma by 8.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 35,023 shares of the biopharmaceutical company’s stock worth $1,154,000 after purchasing an additional 2,760 shares during the period. Finally, Sectoral Asset Management Inc increased its holdings in Albireo Pharma by 21.3% during the 4th quarter. Sectoral Asset Management Inc now owns 229,978 shares of the biopharmaceutical company’s stock worth $5,641,000 after purchasing an additional 40,400 shares during the period. Hedge funds and other institutional investors own 66.85% of the company’s stock.

About Albireo Pharma

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 is A4250, an orally administered ileal sodium dependent bile acid transporter (IBAT) inhibitor that is in phase III clinical trial for treating progressive familial intrahepatic cholestasis and phase II clinical trial for treating biliary atresia, alagille syndrome, and other cholestatic liver diseases.

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Earnings History and Estimates for Albireo Pharma (NASDAQ:ALBO)

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