Akebia Therapeutics (NASDAQ:AKBA) Price Target Lowered to $6.00 at HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA) had its target price cut by HC Wainwright from $8.00 to $6.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, October 8th. BTIG Research cut their price objective on Akebia Therapeutics from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Akebia Therapeutics Price Performance

AKBA stock opened at $2.10 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $556.80 million, a PE ratio of -12.35 and a beta of 0.68. Akebia Therapeutics has a 12-month low of $1.52 and a 12-month high of $4.08. The business’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.09.

Institutional Investors Weigh In On Akebia Therapeutics

Several large investors have recently bought and sold shares of AKBA. New York State Common Retirement Fund increased its holdings in Akebia Therapeutics by 207.2% during the 1st quarter. New York State Common Retirement Fund now owns 38,400 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 25,900 shares during the period. AIGH Capital Management LLC purchased a new stake in Akebia Therapeutics during the 1st quarter worth about $5,616,000. Mackenzie Financial Corp increased its holdings in shares of Akebia Therapeutics by 75.5% in the 1st quarter. Mackenzie Financial Corp now owns 237,558 shares of the biopharmaceutical company’s stock valued at $456,000 after acquiring an additional 102,166 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Akebia Therapeutics in the 1st quarter valued at about $88,000. Finally, Vanguard Group Inc. increased its holdings in shares of Akebia Therapeutics by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company’s stock valued at $24,357,000 after acquiring an additional 1,801,603 shares during the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

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.