Akebia Therapeutics (NASDAQ:AKBA) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a report issued on Friday. The firm set a “buy” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “neutral” rating and set a $1.25 target price on shares of Akebia Therapeutics in a report on Friday, March 10th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Akebia Therapeutics has a consensus rating of “Hold” and an average target price of $1.75.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $0.71 on Friday. The company’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.50. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 3.65. The firm has a market cap of $131.30 million, a PE ratio of -1.37 and a beta of 0.84. Akebia Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.60.

Insider Buying and Selling

In related 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 transaction of $80,843.84. Following the transaction, the chief executive officer now directly owns 1,568,872 shares in the company, valued at $1,380,607.36. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 132,524 shares of company stock worth $116,621. Insiders own 3.68% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

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

About Akebia Therapeutics

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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.