Akebia Therapeutics, Inc. (NASDAQ:AKBA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of research firms have recently weighed in on AKBA. Wall Street Zen lowered Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, January 21st. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd.

Hedge Funds Weigh In On Akebia Therapeutics

Large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Akebia Therapeutics in the 4th quarter worth about $57,000. Round Rock Advisors LLC lifted its stake in shares of Akebia Therapeutics by 15.9% during the 4th quarter. Round Rock Advisors LLC now owns 166,089 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 22,841 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Akebia Therapeutics by 834.9% during the 4th quarter. State of Alaska Department of Revenue now owns 146,078 shares of the biopharmaceutical company’s stock worth $235,000 after acquiring an additional 130,453 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Akebia Therapeutics during the 4th quarter valued at $803,000. Finally, SG Americas Securities LLC grew its position in Akebia Therapeutics by 49.1% in the 4th quarter. SG Americas Securities LLC now owns 173,501 shares of the biopharmaceutical company’s stock valued at $279,000 after acquiring an additional 57,108 shares during the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA opened at $1.45 on Friday. The company has a 50-day moving average price of $1.54 and a 200-day moving average price of $2.45. The company has a market cap of $384.79 million, a price-to-earnings ratio of -20.71 and a beta of 0.35. The company has a current ratio of 1.94, a quick ratio of 1.80 and a debt-to-equity ratio of 1.15. Akebia Therapeutics has a 12 month low of $1.30 and a 12 month high of $4.08.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.