Royal Bank Of Canada Reiterates Outperform Rating for Akebia Therapeutics, Inc. (AKBA)
Akebia Therapeutics, Inc. (NASDAQ:AKBA)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a research note issued on Saturday. They presently have a $28.00 price objective on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 61.85% from the stock’s previous close.
AKBA has been the topic of a number of other reports. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Monday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, June 6th. BidaskClub lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Aegis reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research note on Friday, June 30th. Finally, ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $21.25.
Shares of Akebia Therapeutics (NASDAQ AKBA) opened at 17.30 on Friday. The stock’s 50 day moving average price is $15.33 and its 200 day moving average price is $12.94. The stock’s market capitalization is $316.59 million. Akebia Therapeutics has a one year low of $7.16 and a one year high of $17.79.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million during the quarter, compared to analyst estimates of $26.50 million. Equities research analysts predict that Akebia Therapeutics will post ($2.68) EPS for the current fiscal year.
In related news, Director Muneer A. Satter acquired 1,034,482 shares of Akebia Therapeutics stock in a transaction that occurred on Wednesday, July 5th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $14,999,989.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michel Dahan sold 5,000 shares of Akebia Therapeutics stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.00, for a total value of $75,000.00. Following the transaction, the senior vice president now owns 102,224 shares in the company, valued at approximately $1,533,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,544 shares of company stock worth $111,287. 7.95% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in AKBA. RA Capital Management LLC purchased a new position in Akebia Therapeutics during the second quarter worth approximately $12,018,000. Farallon Capital Management LLC purchased a new position in Akebia Therapeutics during the second quarter worth approximately $10,490,000. Marshall Wace North America L.P. purchased a new position in Akebia Therapeutics during the first quarter worth approximately $6,232,000. MARSHALL WACE ASIA Ltd purchased a new position in Akebia Therapeutics during the first quarter worth approximately $6,232,000. Finally, Renaissance Technologies LLC lifted its position in Akebia Therapeutics by 165.4% during the second quarter. Renaissance Technologies LLC now owns 1,025,300 shares of the biopharmaceutical company’s stock worth $14,734,000 after buying an additional 639,033 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.
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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