Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.60.

Several research analysts have commented on AKBA shares. Aegis reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Friday, March 24th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target (up from $14.00) on shares of Akebia Therapeutics in a research report on Thursday, April 27th. Zacks Investment Research downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Finally, JMP Securities lifted their price objective on Akebia Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th.

Akebia Therapeutics (NASDAQ AKBA) opened at 13.81 on Tuesday. The stock’s market capitalization is $252.72 million. Akebia Therapeutics has a 1-year low of $7.00 and a 1-year high of $15.88. The stock’s 50 day moving average price is $13.11 and its 200 day moving average price is $10.43.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $1.00. The business had revenue of $20.87 million during the quarter, compared to the consensus estimate of $16.50 million. Equities research analysts forecast that Akebia Therapeutics will post ($3.46) earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Akebia Therapeutics by 37.4% in the fourth quarter. Renaissance Technologies LLC now owns 208,600 shares of the biopharmaceutical company’s stock valued at $2,172,000 after buying an additional 56,800 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in shares of Akebia Therapeutics by 7.2% in the fourth quarter. Tudor Investment Corp Et Al now owns 19,728 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 1,318 shares during the last quarter. Wsfs Capital Management LLC purchased a new stake in shares of Akebia Therapeutics during the fourth quarter valued at $302,000. Highbridge Capital Management LLC raised its stake in shares of Akebia Therapeutics by 140.6% in the fourth quarter. Highbridge Capital Management LLC now owns 51,943 shares of the biopharmaceutical company’s stock valued at $541,000 after buying an additional 30,357 shares during the last quarter. Finally, First Manhattan Co. raised its stake in shares of Akebia Therapeutics by 64.2% in the first quarter. First Manhattan Co. now owns 1,705,300 shares of the biopharmaceutical company’s stock valued at $15,432,000 after buying an additional 666,800 shares during the last quarter. 57.61% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

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