BTIG Research Reiterates Buy Rating for Akebia Therapeutics (NASDAQ:AKBA)

Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating restated by BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $5.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price target suggests a potential upside of 218.47% from the stock’s previous close.

Several other research firms have also commented on AKBA. Wall Street Zen lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Akebia Therapeutics in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $1.57 on Tuesday. The firm has a market cap of $416.62 million, a price-to-earnings ratio of -22.43 and a beta of 0.31. Akebia Therapeutics has a 52-week low of $1.45 and a 52-week high of $4.08. The company has a quick ratio of 1.80, a current ratio of 1.94 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $2.31 and its 200 day moving average is $3.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. lifted its position in Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 4,000 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Akebia Therapeutics by 9.4% during the second quarter. ProShare Advisors LLC now owns 51,266 shares of the biopharmaceutical company’s stock worth $187,000 after acquiring an additional 4,388 shares during the last quarter. Legal & General Group Plc grew its position in shares of Akebia Therapeutics by 26.0% during the second quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,798 shares during the last quarter. PDS Planning Inc increased its holdings in shares of Akebia Therapeutics by 11.1% in the 2nd quarter. PDS Planning Inc now owns 50,000 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 5,000 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in Akebia Therapeutics by 25.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 25,525 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 5,145 shares during the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.