Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives Average Rating of “Buy” from Analysts

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have been assigned a consensus rating of “Buy” from the five analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.63.

AKBA has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research note on Friday, April 4th. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Leerink Partners began coverage on shares of Akebia Therapeutics in a research report on Monday, April 28th. They set an “outperform” rating and a $7.00 price objective on the stock. Piper Sandler boosted their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Leerink Partnrs raised Akebia Therapeutics to a “strong-buy” rating in a research report on Monday, April 28th.

Akebia Therapeutics Stock Up 2.5 %

Shares of NASDAQ AKBA opened at $2.45 on Wednesday. The firm’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $1.96. The stock has a market cap of $641.37 million, a P/E ratio of -10.65 and a beta of 0.87. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.89.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $46.50 million during the quarter, compared to the consensus estimate of $37.36 million. On average, sell-side analysts anticipate that Akebia Therapeutics will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. SRS Capital Advisors Inc. acquired a new position in Akebia Therapeutics during the fourth quarter worth $26,000. Mariner LLC acquired a new stake in shares of Akebia Therapeutics during the 4th quarter worth about $28,000. PDS Planning Inc bought a new position in Akebia Therapeutics during the 4th quarter valued at about $28,000. Unified Investment Management boosted its position in Akebia Therapeutics by 47.8% in the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 5,500 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Akebia Therapeutics in the fourth quarter valued at about $37,000. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Company 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 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.