Needham Assigns a Buy Rating on Albireo Pharma (ALBO)
Needham analyst Joseph Stringer assigned a Buy rating to Albireo Pharma (ALBO) today and set a price target of $68.00. The company’s shares closed last Thursday at $30.19.
According to TipRanks.com, Stringer ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -15.0% and a 13.3% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Lexicon Pharmaceuticals, and Phathom Pharmaceuticals.
Currently, the analyst consensus on Albireo Pharma is a Strong Buy with an average price target of $74.33.
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Based on Albireo Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.72 million and GAAP net loss of $24.8 million. In comparison, last year the company earned revenue of $6.43 million and had a GAAP net loss of $7.52 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. The company was founded by Jan Peter Mattsson and Per-Göran Gillberg on December 8, 2003 and is headquartered in Boston, MA.