BidaskClub upgraded shares of Albireo Pharma (NASDAQ:ALBO) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other analysts also recently issued reports on ALBO. Zacks Investment Research raised Albireo Pharma from a sell rating to a hold rating in a research note on Monday. Needham & Company LLC initiated coverage on Albireo Pharma in a research report on Thursday, March 15th. They issued a buy rating and a $50.00 target price on the stock. ValuEngine raised Albireo Pharma from a sell rating to a hold rating in a research report on Friday, February 2nd. Finally, Wedbush reaffirmed a buy rating on shares of Albireo Pharma in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $58.25.

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Shares of Albireo Pharma (NASDAQ ALBO) opened at $33.96 on Tuesday. Albireo Pharma has a 12 month low of $15.31 and a 12 month high of $39.87.

Albireo Pharma (NASDAQ:ALBO) last released its quarterly earnings results on Thursday, March 15th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.78) by $0.23. sell-side analysts forecast that Albireo Pharma will post 1.13 EPS for the current fiscal year.

In related news, major shareholder Phase4 Partners Ltd sold 100,000 shares of Albireo Pharma stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $34.44, for a total value of $3,444,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Life Sciences Maste Perceptive bought 275,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $33.00 per share, for a total transaction of $9,075,000.00. The disclosure for this purchase can be found here. 22.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC increased its position in 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 buying an additional 475,000 shares during the last quarter. Artal Group S.A. acquired a new position in Albireo Pharma during the fourth quarter worth approximately $7,680,000. Sectoral Asset Management Inc increased its position in 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 buying an additional 84,776 shares during the last quarter. Millennium Management LLC increased its position in Albireo Pharma by 65.4% during the fourth quarter. Millennium Management LLC now owns 46,594 shares of the biopharmaceutical company’s stock worth $1,193,000 after buying an additional 18,425 shares during the last quarter. Finally, Ardsley Advisory Partners acquired a new position in Albireo Pharma during the fourth quarter worth approximately $289,000. 29.43% of the stock is currently owned by hedge funds and other institutional investors.

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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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