Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reissued by equities researchers at Mizuho in a research report issued on Tuesday. They presently have a $24.00 target price on the biopharmaceutical company’s stock. Mizuho’s target price points to a potential upside of 66.09% from the company’s previous close.
The analysts wrote, “We had a chance to catch up with CEO John Butler yesterday at the Bio CEO & Investor Conference. We summarize our key takeaways below. Akebia also provided an update on the Vadadustat development program yesterday morning including an expansion of the ongoing phase 2 For2ward and phase 3 Trilo2gy trials in collaboration with Otsuka (TYO:4578, Non rated). While this will delay the timeline for topline data in both programs, we see it as a positive overall as the company will now incorporate additional relevant endpoints with a greater number of patients for better positioning in commercialization. The timeline for data-readouts in the two pivotal Pro2tect and Inno2vate trials remains unchanged.””
Several other research firms also recently commented on AKBA. Piper Jaffray Companies started coverage on Akebia Therapeutics in a research note on Monday, December 18th. They set an “overweight” rating and a $26.00 price objective for the company. ValuEngine downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, November 13th. BTIG Research started coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They set a “buy” rating and a $30.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $24.00 price objective on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $22.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new position in Akebia Therapeutics during the 3rd quarter worth approximately $183,000. Campbell & CO Investment Adviser LLC acquired a new position in Akebia Therapeutics during the 3rd quarter worth approximately $200,000. Cubist Systematic Strategies LLC acquired a new position in Akebia Therapeutics during the 2nd quarter worth approximately $159,000. Caxton Associates LP acquired a new position in Akebia Therapeutics during the 3rd quarter worth approximately $246,000. Finally, Teacher Retirement System of Texas acquired a new position in Akebia Therapeutics during the 4th quarter worth approximately $188,000. Institutional investors own 62.16% of the company’s stock.
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).
Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.