Akebia Therapeutics, Inc. (AKBA) Lifted to “Buy” at Zacks Investment Research
Akebia Therapeutics, Inc. (NASDAQ:AKBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $16.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.36% from the company’s previous close.
According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “
A number of other research analysts have also commented on AKBA. UBS AG restated a “buy” rating and issued a $17.00 price objective (up from $12.00) on shares of Akebia Therapeutics in a research note on Friday, May 5th. HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Akebia Therapeutics in a research note on Wednesday, August 9th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Aegis lifted their price objective on shares of Akebia Therapeutics from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, BidaskClub lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.29.
Akebia Therapeutics (NASDAQ AKBA) traded up 2.38% during midday trading on Monday, reaching $14.63. 393,505 shares of the company’s stock traded hands. Akebia Therapeutics has a 1-year low of $7.16 and a 1-year high of $16.54. The company’s market capitalization is $267.73 million. The firm’s 50 day moving average price is $14.06 and its 200-day moving average price is $11.87.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.36. The business had revenue of $28.52 million during the quarter, compared to analyst estimates of $26.50 million. Equities analysts expect that Akebia Therapeutics will post ($3.13) EPS for the current year.
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In other news, Director Muneer A. Satter bought 1,034,482 shares of the stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average price of $14.50 per share, with a total value of $14,999,989.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.67% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Akebia Therapeutics during the second quarter worth approximately $132,000. Legal & General Group Plc increased its stake in Akebia Therapeutics by 8.0% in the second quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 714 shares in the last quarter. Hartwell J M Limited Partnership bought a new stake in Akebia Therapeutics during the second quarter worth approximately $144,000. Creative Planning increased its stake in Akebia Therapeutics by 2.9% in the second quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 300 shares in the last quarter. Finally, American International Group Inc. increased its stake in Akebia Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 1,460 shares in the last quarter. 46.34% of the stock is currently owned by hedge funds and other institutional investors.
Akebia Therapeutics Company Profile
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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