H.C. Wainwright Sticks to Their Buy Rating for Albireo Pharma Inc (ALBO)

By Carrie Williams

H.C. Wainwright analyst Ed Arce maintained a Buy rating on Albireo Pharma Inc (ALBOResearch Report) on August 9 and set a price target of $62. The company’s shares closed on Friday at $22.86.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.5% and a 34.7% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Albireo Pharma Inc with a $56.67 average price target, representing a 147.9% upside. In a report issued on August 9, Wedbush also maintained a Buy rating on the stock with a $69 price target.

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Based on Albireo Pharma Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.63 million. In comparison, last year the company had a GAAP net loss of $14.6 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.