Research analysts at Needham & Company LLC initiated coverage on shares of Albireo Pharma (NASDAQ:ALBO) in a report released on Thursday, March 15th. The brokerage set a “buy” rating and a $50.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price suggests a potential upside of 57.38% from the company’s previous close.
The analysts wrote, “Albireo mgmt hosted a 4Q17 conference call today to provide a corporate update. Company remains on track for initiation of Phase 3 testing of IBAT inhibitor A4250 in Progressive Familiar Intrahepatic Cholestasis (PFIC) in the near future. As a reminder, Albireo presented encouraging data from a Phase 2 trial in rare pediatric cholestatic liver diseases, including PFIC, in 2017. Mgmt guided for Phase 3 top-line results by YE19, w/ regulatory submissions shortly thereafter. Albireo also plans to evaluate elobixibat in Non-Alcoholic Steatohepatitis (NASH), although not until early 2019. Evaluation of A4250 in other rare pediatric cholestatic liver diseases and testing of A3384 in Bile Acid Malabsorption is still planned, but deprioritized in order to focus on A4250 in PFIC. We believe stock is undervalued and reiterate BUY.””
ALBO has been the topic of several other reports. Zacks Investment Research downgraded Albireo Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. BidaskClub downgraded Albireo Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Wedbush restated a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, January 3rd. Cowen restated a “buy” rating on shares of Albireo Pharma in a research note on Friday, November 17th. Finally, ValuEngine upgraded Albireo Pharma from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $59.50.
Shares of ALBO stock traded down $1.00 during midday trading on Thursday, hitting $31.77. The company had a trading volume of 28,079 shares, compared to its average volume of 58,593. Albireo Pharma has a 52-week low of $15.31 and a 52-week high of $39.87. The company has a market capitalization of $377.97, a P/E ratio of -10.09 and a beta of 1.61.
Albireo Pharma (NASDAQ:ALBO) last announced its earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.23. research analysts expect that Albireo Pharma will post 0.77 EPS for the current year.
In related news, major shareholder Life Sciences Maste Perceptive purchased 275,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was bought at an average cost of $33.00 per share, with a total value of $9,075,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Phase4 Partners Ltd sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $34.44, for a total value of $3,444,000.00. The disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALBO. Perceptive Advisors LLC raised its holdings in shares of Albireo Pharma by 56.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,320,000 shares of the biopharmaceutical company’s stock worth $33,792,000 after acquiring an additional 475,000 shares during the last quarter. Artal Group S.A. acquired a new position in shares of Albireo Pharma in the fourth quarter worth $7,680,000. Sectoral Asset Management Inc raised its holdings in shares of Albireo Pharma by 53.6% in the fourth quarter. Sectoral Asset Management Inc now owns 242,803 shares of the biopharmaceutical company’s stock worth $6,216,000 after acquiring an additional 84,776 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Albireo Pharma by 65.4% in the fourth quarter. Millennium Management LLC now owns 46,594 shares of the biopharmaceutical company’s stock worth $1,193,000 after acquiring an additional 18,425 shares during the last quarter. Finally, Ardsley Advisory Partners acquired a new position in shares of Albireo Pharma in the fourth quarter worth $289,000. 29.43% of the stock is owned by institutional investors.
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Albireo Pharma Company Profile
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.
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