Akebia Therapeutics Inc (AKBA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) have been given an average recommendation of “Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.50.

AKBA has been the subject of several recent analyst reports. Piper Jaffray Companies initiated coverage on Akebia Therapeutics in a research note on Monday, December 18th. They set an “overweight” rating and a $26.00 target price for the company. BTIG Research initiated coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They set a “buy” rating and a $30.00 target price for the company. Royal Bank of Canada restated a “hold” rating and set a $17.00 target price on shares of Akebia Therapeutics in a research note on Thursday, November 2nd. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. Finally, Zacks Investment Research cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd.

Shares of Akebia Therapeutics (NASDAQ AKBA) opened at $15.14 on Friday. Akebia Therapeutics has a 12 month low of $8.58 and a 12 month high of $20.25. The firm has a market capitalization of $699.58, a price-to-earnings ratio of -4.79 and a beta of 0.87.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.07. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. The firm had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $34.00 million. equities analysts forecast that Akebia Therapeutics will post -2.25 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Akebia Therapeutics by 1.3% during the second quarter. Rhumbline Advisers now owns 41,510 shares of the biopharmaceutical company’s stock worth $596,000 after buying an additional 518 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Akebia Therapeutics by 8.0% during 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. Wells Fargo & Company MN increased its holdings in shares of Akebia Therapeutics by 1.0% during the second quarter. Wells Fargo & Company MN now owns 88,116 shares of the biopharmaceutical company’s stock worth $1,266,000 after buying an additional 880 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Akebia Therapeutics by 4.5% during the second quarter. Nationwide Fund Advisors now owns 21,403 shares of the biopharmaceutical company’s stock worth $308,000 after buying an additional 915 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Akebia Therapeutics by 11.7% during the second quarter. Voya Investment Management LLC now owns 18,454 shares of the biopharmaceutical company’s stock worth $265,000 after buying an additional 1,933 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.

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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).

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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