Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.
Several other brokerages have also recently weighed in on AKBA. BTIG Research reissued a “buy” rating and set a $4.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akebia Therapeutics in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Akebia Therapeutics in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.67.
Check Out Our Latest Stock Report on Akebia Therapeutics
Akebia Therapeutics Price Performance
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last announced 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 net margin of 8.83% and a negative return on equity of 62.72%. The company had revenue of $53.54 million during the quarter, compared to the consensus estimate of $51.67 million. As a group, analysts predict that Akebia Therapeutics will post -0.1 earnings per share for the current year.
Insider Activity at Akebia Therapeutics
In other news, CFO Erik Ostrowski sold 56,019 shares of the company’s stock in a transaction dated 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 directly owned 616,616 shares of the company’s stock, valued at $684,443.76. This represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.30% of the company’s stock.
Institutional Investors Weigh In On Akebia Therapeutics
Several hedge funds have recently bought and sold shares of AKBA. Baird Financial Group Inc. increased its stake in shares of Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 4,000 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Akebia Therapeutics by 13.1% in the 1st quarter. AQR Capital Management LLC now owns 176,961 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 20,499 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Akebia Therapeutics by 9.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,897 shares of the biopharmaceutical company’s stock worth $265,000 after buying an additional 11,517 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Akebia Therapeutics by 171.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock valued at $5,231,000 after buying an additional 1,722,245 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Akebia Therapeutics by 123.0% during the second quarter. JPMorgan Chase & Co. now owns 1,652,746 shares of the biopharmaceutical company’s stock valued at $6,016,000 after buying an additional 911,585 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.
Akebia Therapeutics Company Profile
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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