Akebia Therapeutics (NASDAQ:AKBA) Earns Neutral Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a report released on Friday morning, Benzinga reports. They currently have a $1.25 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Akebia Therapeutics from a hold rating to a buy rating in a report on Thursday, March 9th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Akebia Therapeutics presently has a consensus rating of Hold and an average target price of $1.75.

Akebia Therapeutics Stock Performance

Shares of NASDAQ AKBA opened at $0.76 on Friday. The stock has a market cap of $139.16 million, a P/E ratio of -1.45 and a beta of 0.84. The firm has a 50 day moving average price of $0.80 and a 200 day moving average price of $0.50. Akebia Therapeutics has a 52-week low of $0.24 and a 52-week high of $2.68.

Insider Transactions at Akebia Therapeutics

In other news, CEO John P. Butler sold 91,868 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $0.88, for a total value of $80,843.84. Following the sale, the chief executive officer now owns 1,568,872 shares of the company’s stock, valued at $1,380,607.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 132,524 shares of company stock valued at $116,621 over the last 90 days. 3.68% of the stock is owned by corporate insiders.

Institutional Trading of Akebia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alerce Investment Management L.P. raised its position in Akebia Therapeutics by 224.3% during the fourth quarter. Alerce Investment Management L.P. now owns 15,090,119 shares of the biopharmaceutical company’s stock worth $8,707,000 after acquiring an additional 10,437,558 shares in the last quarter. Vanguard Group Inc. raised its position in Akebia Therapeutics by 8.8% during the first quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock worth $10,339,000 after acquiring an additional 1,167,319 shares in the last quarter. Millennium Management LLC raised its position in Akebia Therapeutics by 65.8% during the second quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company’s stock worth $1,891,000 after acquiring an additional 2,124,161 shares in the last quarter. Renaissance Technologies LLC raised its position in Akebia Therapeutics by 103.5% during the third quarter. Renaissance Technologies LLC now owns 3,016,427 shares of the biopharmaceutical company’s stock worth $954,000 after acquiring an additional 1,534,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Akebia Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,666,861 shares of the biopharmaceutical company’s stock worth $1,915,000 after acquiring an additional 73,020 shares in the last quarter. 28.13% of the stock is owned by institutional investors.

Akebia Therapeutics Company Profile

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Akebia Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney diseases. The firm is also involved in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat.