Albireo Pharma Inc (ALBO) Initiated with a Buy at H.C. Wainwright

By Austin Angelo

Albireo Pharma Inc (ALBOResearch Report) received a Buy rating and a $62 price target from H.C. Wainwright analyst Ed Arce today. The company’s shares closed yesterday at $26.80.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 9.3% and a 41.9% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Albireo Pharma Inc with a $65.50 average price target.

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Based on Albireo Pharma Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $14.03 million. In comparison, last year the company had a GAAP net loss of $6.51 million.

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Albireo Pharma, Inc. is a pharmaceutical company, which engages in the development and commercialization of bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders. Its product pipeline includes A4250, Elobixibat, and A3384.