Wipfli Financial Advisors LLC acquired a new stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Rating) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 200,000 shares of the biopharmaceutical company’s stock, valued at approximately $63,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKBA. Millennium Management LLC raised its holdings in shares of Akebia Therapeutics by 65.8% during the 2nd quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company’s stock worth $1,891,000 after buying an additional 2,124,161 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Akebia Therapeutics by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock worth $10,339,000 after buying an additional 1,167,319 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Akebia Therapeutics by 367.4% during the 2nd quarter. AQR Capital Management LLC now owns 862,168 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 677,703 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Akebia Therapeutics by 47.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,482,300 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 478,973 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of Akebia Therapeutics during the 2nd quarter worth $141,000. 28.13% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on Akebia Therapeutics in a research report on Monday, January 2nd. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Akebia Therapeutics currently has an average rating of “Hold” and an average price target of $1.75.
Akebia Therapeutics Stock Up 0.7 %
Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.13). Akebia Therapeutics had a negative return on equity of 315.92% and a negative net margin of 52.42%. The firm had revenue of $48.96 million for the quarter, compared to the consensus estimate of $47.17 million. As a group, equities research analysts expect that Akebia Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.
Akebia Therapeutics Profile
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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.
- Get a free copy of the StockNews.com research report on Akebia Therapeutics (AKBA)
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