Albireo Pharma Inc (ALBO) Receives a Buy from Needham

By Jason Carr

Needham analyst Alan Carr maintained a Buy rating on Albireo Pharma Inc (ALBOResearch Report) today and set a price target of $50. The company’s shares opened today at $24.94.

Carr observed:

“Albireo provided a quarterly corporate update today and hosted an analyst/ investor event at the AASLD mtg yesterday. Mgmt reported progress w/ Phase 3 PEDFIC1 trial of IBAT inhibitor A4250 in PFIC1/2, announcing that 26 sites have now been opened. Top-line results are still expected around YE19. Recent presentations at NASPGHAN and AASLD mtgs provide additional context around PFIC natural history, unmet need, and A4250 therapeutic strategy. Mgmt continues to guide for another A4250 trial initiation in 2019, most likely Biliary Atresia or Alagille Syndrome. Reiterate BUY. Stock does not adequately reflect value of development efforts in pediatric liver disease.”

According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.9% and a 39.4% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Iterum Therapeutics Plc.

Currently, the analyst consensus on Albireo Pharma Inc is a Moderate Buy with an average price target of $59.50.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.