Analysts Set Akebia Therapeutics, Inc. (NASDAQ:AKBA) Price Target at $4.67

Akebia Therapeutics, Inc. (NASDAQ:AKBAGet Free Report) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.6667.

AKBA has been the subject of several research analyst reports. Wall Street Zen lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Akebia Therapeutics in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, April 7th. Zacks Research downgraded Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Akebia Therapeutics in a research note on Friday, February 6th.

Read Our Latest Analysis on AKBA

Akebia Therapeutics Stock Performance

AKBA stock opened at $1.06 on Friday. The stock has a 50-day moving average price of $1.37 and a 200-day moving average price of $1.50. Akebia Therapeutics has a 1-year low of $1.06 and a 1-year high of $4.08. The company has a current ratio of 1.40, a quick ratio of 1.33 and a debt-to-equity ratio of 1.33. The firm has a market cap of $284.35 million, a PE ratio of -13.25 and a beta of 0.35.

Akebia Therapeutics (NASDAQ:AKBAGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Akebia Therapeutics had a negative return on equity of 62.72% and a negative net margin of 8.83%.The business had revenue of $53.54 million during the quarter, compared to the consensus estimate of $51.67 million. As a group, equities research analysts expect that Akebia Therapeutics will post -0.03 earnings per share for the current year.

Insider Activity at Akebia Therapeutics

In other news, CEO John P. Butler bought 69,270 shares of Akebia Therapeutics stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $1.25 per share, for a total transaction of $86,587.50. Following the purchase, the chief executive officer directly owned 3,367,064 shares in the company, valued at approximately $4,208,830. This represents a 2.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Akebia Therapeutics

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Akebia Therapeutics in the 1st quarter valued at about $206,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Akebia Therapeutics in the 1st quarter valued at about $59,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Akebia Therapeutics by 697.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,622 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 18,037 shares during the period. Virtu Financial LLC acquired a new stake in shares of Akebia Therapeutics in the 4th quarter valued at about $75,000. Finally, XTX Topco Ltd grew its stake in shares of Akebia Therapeutics by 1,136.8% in the 4th quarter. XTX Topco Ltd now owns 472,485 shares of the biopharmaceutical company’s stock valued at $761,000 after buying an additional 434,284 shares during the period. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

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Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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