Akebia Therapeutics Inc. (NASDAQ:AKBA) traded down 2.1% during mid-day trading on Wednesday . The company traded as low as $8.90 and last traded at $9.06, with a volume of 87,966 shares traded. The stock had previously closed at $9.25.

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a report on Tuesday, August 23rd. Zacks Investment Research cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. JMP Securities reiterated a “market perform” rating and issued a $16.00 price objective on shares of Akebia Therapeutics in a report on Thursday, August 11th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $8.00 price objective on shares of Akebia Therapeutics in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $15.57.

The stock’s market capitalization is $170.74 million. The stock’s 50 day moving average price is $8.35 and its 200-day moving average price is $8.58.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/akebia-therapeutics-inc-akba-shares-down-2-1.html

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.57) by $0.38. On average, equities analysts predict that Akebia Therapeutics Inc. will post ($3.73) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKBA. First Manhattan Co. raised its position in Akebia Therapeutics by 135.0% in the first quarter. First Manhattan Co. now owns 1,865,800 shares of the biopharmaceutical company’s stock valued at $16,810,000 after buying an additional 1,071,996 shares in the last quarter. BlackRock Fund Advisors raised its position in Akebia Therapeutics by 8.2% in the second quarter. BlackRock Fund Advisors now owns 1,408,498 shares of the biopharmaceutical company’s stock valued at $10,536,000 after buying an additional 107,049 shares in the last quarter. Nantahala Capital Management LLC raised its position in Akebia Therapeutics by 507.8% in the first quarter. Nantahala Capital Management LLC now owns 1,347,326 shares of the biopharmaceutical company’s stock valued at $12,139,000 after buying an additional 1,125,652 shares in the last quarter. Vanguard Group Inc. raised its position in Akebia Therapeutics by 6.6% in the second quarter. Vanguard Group Inc. now owns 1,085,393 shares of the biopharmaceutical company’s stock valued at $8,118,000 after buying an additional 67,246 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in Akebia Therapeutics by 3.3% in the second quarter. Perceptive Advisors LLC now owns 893,600 shares of the biopharmaceutical company’s stock valued at $6,684,000 after buying an additional 28,600 shares in the last quarter. Institutional investors own 51.58% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology, and the commercialization of these products for patients with serious medical needs. The Company’s segment is the business of developing and commercializing proprietary therapeutics based on HIF biology.

5 Day Chart for NASDAQ:AKBA

Receive News & Ratings for Akebia Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.