Albireo Pharma downgraded to Market Perform from Outperform at Cowen

Cowen analyst Ritu Baral downgraded Albireo Pharma to Market Perform from Outperform with a price target of $48, down from $68, after the company agreed to be acquired by Ipsen for $42 per share in cash plus one contingent value right worth $10 per share payable upon the FDA approval of Bylvay in the biliary atresia indication.