Albireo Pharma downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Ed Arce downgraded Albireo Pharma (ALB) to Neutral from Buy with a $42 price target after the company agreed to be acquired by Ipsen (IPSEY) for $42 per share in cash for an initial estimated aggregate consideration of $952M plus one contingent value right, or CVR, worth $10 per CVR payable upon the FDA approval of Bylvay in the Biliary Atresia indication. He anticipates the acquisition to close by the end of Q1, as expected.