BidaskClub Downgrades Albireo Pharma (ALBO) to Sell
Albireo Pharma (NASDAQ:ALBO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.
ALBO has been the topic of several other reports. Zacks Investment Research upgraded shares of Albireo Pharma from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, January 16th. Wedbush reiterated a “buy” rating on shares of Albireo Pharma in a report on Wednesday, January 3rd. Finally, Needham & Company LLC started coverage on shares of Albireo Pharma in a report on Thursday, March 15th. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.60.
NASDAQ:ALBO opened at $33.27 on Thursday. The stock has a market capitalization of $389.99, a price-to-earnings ratio of -10.56 and a beta of 1.61. Albireo Pharma has a 1-year low of $15.31 and a 1-year high of $39.87.
In related news, major shareholder Life Sciences Maste Perceptive acquired 275,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average cost of $33.00 per share, for a total transaction of $9,075,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Phase4 Partners Ltd sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $34.44, for a total transaction of $3,444,000.00. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
Several hedge funds have recently modified their holdings of ALBO. Perceptive Advisors LLC lifted its holdings in shares of Albireo Pharma 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 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 4th quarter worth approximately $7,680,000. Sectoral Asset Management Inc lifted its holdings in shares of Albireo Pharma by 53.6% in the 4th 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 lifted its holdings in shares of Albireo Pharma by 65.4% in the 4th 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 4th quarter worth approximately $289,000. Hedge funds and other institutional investors own 26.86% of the company’s stock.
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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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