Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.90.
A number of analysts have recently weighed in on the company. Zacks Research raised Akebia Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Akebia Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Leerink Partners lowered Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price target on the stock. in a research report on Friday, August 7th. Finally, Westpark Capital began coverage on shares of Akebia Therapeutics in a report on Tuesday, September 8th. They issued a “buy” rating and a $4.50 price objective on the stock.
View Our Latest Stock Report on AKBA
Akebia Therapeutics Stock Up 2.3%
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $49.13 million for the quarter, compared to analyst estimates of $48.85 million. Akebia Therapeutics had a negative return on equity of 88.88% and a negative net margin of 13.54%. As a group, research analysts expect that Akebia Therapeutics will post -0.14 earnings per share for the current fiscal year.
Insider Buying and Selling at Akebia Therapeutics
In related news, CFO Erik Ostrowski sold 56,019 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $1.11, for a total value of $62,181.09. Following the sale, the chief financial officer owned 616,616 shares in the company, valued at approximately $684,443.76. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of AKBA. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Akebia Therapeutics in the second quarter worth about $26,000. Hsbc Holdings PLC purchased a new position in Akebia Therapeutics during the second quarter valued at approximately $27,000. Legal & General Group Plc purchased a new position in Akebia Therapeutics during the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Akebia Therapeutics by 697.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,622 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 18,037 shares during the period. Finally, Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for patients with kidney disease and related conditions. The company’s research and commercial activities center on therapies intended to address anemia associated with chronic kidney disease, iron deficiency, and other complications affecting people with impaired kidney function.
Akebia’s lead product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor approved in the United States for the treatment of anemia due to chronic kidney disease in adults on dialysis.
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