Albireo Pharma Inc Received its Third Buy in a Row

By Carrie Williams

After Jefferies and Wedbush gave Albireo Pharma Inc (NASDAQ: ALBO) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alan Carr assigned a Buy rating to Albireo Pharma Inc today and set a price target of $50. The company’s shares opened today at $33.80.

Carr said:

“Albireo mgmt hosted a conference call today to provide a quarterly corporate update.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 5.6% and a 42.2% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Albireo Pharma Inc has an analyst consensus of Strong Buy, with a price target consensus of $54.33.

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Based on Albireo Pharma Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.62 million. In comparison, last year the company had a GAAP net loss of $6.67 million.

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Albireo Pharma, Inc. is a pharmaceutical company engages in the development and commercialization of bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders where the improper flow or absorption of bile causes serious medical conditions.