Akebia Therapeutics (NASDAQ:AKBA) Shares Up 9.3%

Akebia Therapeutics Inc (NASDAQ:AKBA) shares shot up 9.3% on Friday . The stock traded as high as $4.70 and last traded at $4.70, 814,911 shares traded hands during trading. A decline of 27% from the average session volume of 1,118,136 shares. The stock had previously closed at $4.30.

Several brokerages have recently weighed in on AKBA. Zacks Investment Research raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. BidaskClub raised shares of Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. began coverage on shares of Akebia Therapeutics in a research note on Thursday, May 2nd. They set an “overweight” rating and a $12.00 price target for the company. Mizuho set a $16.00 price target on shares of Akebia Therapeutics and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.88.

The company has a market capitalization of $558.66 million, a P/E ratio of -1.93 and a beta of 1.43. The firm’s 50 day moving average price is $4.19 and its two-hundred day moving average price is $5.78. The company has a current ratio of 1.70, a quick ratio of 1.15 and a debt-to-equity ratio of 0.06.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Akebia Therapeutics had a negative net margin of 75.64% and a negative return on equity of 36.92%. The business had revenue of $100.80 million during the quarter, compared to analysts’ expectations of $88.35 million. Analysts anticipate that Akebia Therapeutics Inc will post -1.41 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in AKBA. Bank of New York Mellon Corp grew its position in shares of Akebia Therapeutics by 155.1% in the fourth quarter. Bank of New York Mellon Corp now owns 548,595 shares of the biopharmaceutical company’s stock valued at $3,034,000 after purchasing an additional 333,569 shares during the last quarter. Northern Trust Corp grew its position in shares of Akebia Therapeutics by 67.9% in the fourth quarter. Northern Trust Corp now owns 1,065,381 shares of the biopharmaceutical company’s stock valued at $5,892,000 after purchasing an additional 430,985 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Akebia Therapeutics by 107.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 942,599 shares of the biopharmaceutical company’s stock valued at $5,212,000 after purchasing an additional 488,972 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at approximately $61,000. Finally, Geode Capital Management LLC grew its position in shares of Akebia Therapeutics by 58.6% in the fourth quarter. Geode Capital Management LLC now owns 1,011,544 shares of the biopharmaceutical company’s stock valued at $5,593,000 after purchasing an additional 373,594 shares during the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.

About Akebia Therapeutics (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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