Shares of biopharmaceutical company Albireo Pharma (NASDAQ:ALBO) are trending upward today on positive topline results from the Phase 3 study of Bylvay for the treatment of Alagille Syndrome (ALGS).
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Importantly, the study met its primary and secondary endpoints of improvement in pruritus and reduction in serum bile acids respectively.
The drug was well tolerated and the company is now aiming for regulatory filings in the U.S. as well as the E.U.
ALGS affects ~25,000 people worldwide.
Is ALBO Stock a Good Buy?
Albireo stock has been on a tear over the past month, having risen nearly 33% and the Street sees a massive 104.25% further upside in the stock based on an average price target of $50.
Further, four unanimous Buys point to a Strong Buy consensus rating for the stock.
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