Albireo Pharma (ALBO) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Albireo Pharma (NASDAQ:ALBO) issued its quarterly earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.23, Morningstar.com reports.

Shares of ALBO traded down $1.00 during midday trading on Friday, hitting $31.77. 28,079 shares of the company traded hands, 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 PE ratio of -10.09 and a beta of 1.61.

How to Become a New Pot Stock Millionaire

ALBO has been the topic of several research analyst reports. Zacks Investment Research raised Albireo Pharma from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, January 16th. BidaskClub upgraded Albireo Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Wedbush restated a “buy” rating on shares of Albireo Pharma in a research note on Wednesday, January 3rd. Finally, Needham & Company LLC assumed coverage on Albireo Pharma in a research note on Thursday, March 15th. They issued a “buy” rating and a $50.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Albireo Pharma currently has an average rating of “Buy” and a consensus price target of $59.50.

In other Albireo Pharma news, major shareholder Phase4 Partners Ltd sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $34.44, for a total value of $3,444,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 275,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was purchased at an average cost of $33.00 per share, with a total value of $9,075,000.00. The disclosure for this purchase can be found here. 22.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its stake in 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 purchasing an additional 18,425 shares during the last quarter. Ardsley Advisory Partners purchased a new position in shares of Albireo Pharma during the fourth quarter worth approximately $289,000. Perceptive Advisors LLC increased its position in shares of Albireo Pharma by 56.2% during 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 period. Sectoral Asset Management Inc increased its position in shares of Albireo Pharma by 53.6% during 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 period. Finally, Artal Group S.A. purchased a new position in shares of Albireo Pharma during the fourth quarter worth approximately $7,680,000. 29.43% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Albireo Pharma (ALBO) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2018/04/08/albireo-pharma-albo-posts-earnings-results-beats-estimates-by-0-23-eps.html.

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.

Earnings History for Albireo Pharma (NASDAQ:ALBO)

Receive News & Ratings for Albireo Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albireo Pharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply