Equities researchers at Royal Bank Of Canada started coverage on shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in a report released on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on AKBA. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Aegis restated a “buy” rating and issued a $25.00 price target on shares of Akebia Therapeutics in a research note on Thursday, May 18th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, HC Wainwright decreased their price target on shares of Akebia Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.29.

Shares of Akebia Therapeutics (NASDAQ AKBA) traded up 0.7949% during mid-day trading on Thursday, hitting $17.7399. 230,095 shares of the stock traded hands. The company’s market cap is $324.64 million. Akebia Therapeutics has a 52 week low of $7.16 and a 52 week high of $17.79. The stock has a 50-day moving average of $14.99 and a 200-day moving average of $12.82.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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. Analysts anticipate that Akebia Therapeutics will post ($2.82) EPS for the current year.

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In other news, Director Muneer A. Satter acquired 1,034,482 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michel Dahan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the senior vice president now directly owns 102,224 shares of the company’s stock, valued at approximately $1,533,360. The disclosure for this sale can be found here. Insiders have sold 7,544 shares of company stock valued at $111,287 in the last ninety days. 7.95% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AKBA. Goldman Sachs Group Inc. lifted its holdings in shares of Akebia Therapeutics by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock worth $453,000 after acquiring an additional 608 shares during the last quarter. Piermont Capital Management Inc. bought a new position in shares of Akebia Therapeutics in the first quarter worth about $595,000. Morgan Stanley lifted its holdings in shares of Akebia Therapeutics by 6.8% in the first quarter. Morgan Stanley now owns 870,442 shares of the biopharmaceutical company’s stock worth $8,008,000 after acquiring an additional 55,369 shares during the last quarter. American International Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,460 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Akebia Therapeutics by 6.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 125,130 shares of the biopharmaceutical company’s stock worth $1,152,000 after acquiring an additional 7,353 shares during the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.

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).

The Fly

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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