Brokerages Set Akebia Therapeutics, Inc. (NASDAQ:AKBA) Price Target at $6.75

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.75.

Several research analysts have commented on the company. Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Saturday, September 27th.

Akebia Therapeutics Stock Performance

NASDAQ:AKBA opened at $2.83 on Friday. The stock has a market cap of $750.35 million, a P/E ratio of -16.65 and a beta of 0.68. The stock has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $2.96. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. Akebia Therapeutics has a 1-year low of $1.25 and a 1-year high of $4.08.

Institutional Trading of Akebia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Unified Investment Management increased its position in Akebia Therapeutics by 47.8% in the 1st 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. E Fund Management Co. Ltd. increased its position in Akebia Therapeutics by 51.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 6,595 shares in the last quarter. Abel Hall LLC bought a new stake in Akebia Therapeutics during the 2nd quarter worth approximately $39,000. Baird Financial Group Inc. increased its holdings in Akebia Therapeutics by 23.0% during the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Akebia Therapeutics during the 2nd quarter worth approximately $59,000. 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.