Akebia Therapeutics, Inc. (AKBA) Earns Buy Rating from Analysts at Mizuho
Mizuho began coverage on shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
A number of other research firms have also weighed in on AKBA. Royal Bank Of Canada initiated coverage on Akebia Therapeutics in a report on Thursday, September 14th. They set a “sector perform” rating and a $17.00 target price on the stock. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Aegis reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, August 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.71.
Shares of Akebia Therapeutics (AKBA) traded down 0.52% on Wednesday, hitting $19.23. 297,370 shares of the stock were exchanged. Akebia Therapeutics has a one year low of $7.16 and a one year high of $20.25. The firm’s market capitalization is $351.91 million. The company has a 50-day moving average price of $16.97 and a 200-day moving average price of $13.75.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.36. The business had revenue of $28.52 million during the quarter, compared to the consensus estimate of $26.50 million. Equities research analysts expect that Akebia Therapeutics will post ($2.57) earnings per share for the current year.
In related news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.30, for a total value of $96,500.00. Following the completion of the sale, the senior vice president now directly owns 97,224 shares in the company, valued at approximately $1,876,423.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.67% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Akebia Therapeutics in the 2nd quarter worth about $132,000. Legal & General Group Plc boosted its holdings in Akebia Therapeutics by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 714 shares during the period. Hartwell J M Limited Partnership bought a new stake in Akebia Therapeutics in the 2nd quarter valued at about $144,000. Creative Planning boosted its holdings in Akebia Therapeutics by 2.9% in the 2nd quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 300 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Akebia Therapeutics in the 2nd quarter valued at about $159,000. 57.62% of the stock is currently owned by institutional investors and hedge funds.
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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