Albireo Pharma, Inc. (ALBO) Receives $71.00 Consensus PT from Brokerages
Shares of Albireo Pharma, Inc. (NASDAQ:ALBO) have been assigned an average rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $71.00.
ALBO has been the topic of a number of analyst 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 research note on Tuesday, January 16th. BidaskClub upgraded shares of 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. Cowen restated a “buy” rating on shares of Albireo Pharma in a research note on Friday, November 17th. Finally, Roth Capital initiated coverage on shares of Albireo Pharma in a research note on Wednesday, November 15th. They set a “buy” rating and a $92.00 target price on the stock.
Albireo Pharma (ALBO) traded down $0.27 on Wednesday, hitting $34.18. 192,299 shares of the company were exchanged, compared to its average volume of 127,201. Albireo Pharma has a 52 week low of $15.31 and a 52 week high of $39.87.
In related news, major shareholder Life Sciences Maste Perceptive purchased 275,000 shares of Albireo Pharma stock in a transaction on Thursday, January 25th. The shares were bought at an average cost of $33.00 per share, for a total transaction of $9,075,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Phase4 Partners Ltd sold 100,000 shares of Albireo Pharma stock in a transaction on Tuesday, January 30th. The shares were 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. Insiders own 22.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ALBO. Wells Fargo & Company MN increased its holdings in Albireo Pharma by 282.1% in the 4th quarter. Wells Fargo & Company MN now owns 6,350 shares of the biopharmaceutical company’s stock valued at $162,000 after acquiring an additional 4,688 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Albireo Pharma in the 4th quarter valued at $216,000. Finally, Artal Group S.A. bought a new stake in Albireo Pharma in the 4th quarter valued at $7,680,000. Institutional investors own 23.89% of the company’s stock.
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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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