Albireo Pharma Inc Receives a New Rating from a Top Analyst

By Austin Angelo

Cowen & Co. analyst Ritu Baral assigned a Buy rating to Albireo Pharma Inc (NASDAQ: ALBO) yesterday. The company’s shares opened today at $25.99.

Baral said:

“Albireo reported 3Q earnings today and provided a brief summary of recent progress.”

According to TipRanks.com, Baral is a top 100 analyst with an average return of 23.2% and a 50.6% success rate. Baral covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Global Blood Therapeutics.

Currently, the analyst consensus on Albireo Pharma Inc is Strong Buy and the average price target is $61.67, representing a 137.3% upside.

In a report issued on November 14, Needham also initiated coverage with a Buy rating on the stock with a $35 price target.

Based on Albireo Pharma Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $6.51 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $3.1 million.

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