Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $6.75 Average Price Target from Brokerages

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.75.

A number of research firms have recently weighed in on AKBA. Zacks Research downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Friday. Finally, Wall Street Zen downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th.

Akebia Therapeutics Stock Up 1.7%

Akebia Therapeutics stock opened at $3.03 on Wednesday. The company has a market capitalization of $803.39 million, a P/E ratio of -17.82 and a beta of 0.68. The firm’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $3.06. 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 $1.52 and a 1-year high of $4.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Akebia Therapeutics by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company’s stock worth $24,357,000 after acquiring an additional 1,801,603 shares during the period. Geode Capital Management LLC raised its holdings in Akebia Therapeutics by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,074,458 shares of the biopharmaceutical company’s stock worth $22,115,000 after acquiring an additional 1,043,718 shares during the period. AIGH Capital Management LLC bought a new position in Akebia Therapeutics in the 1st quarter worth $5,616,000. MPM Bioimpact LLC bought a new position in Akebia Therapeutics in the 2nd quarter worth $10,516,000. Finally, Goldman Sachs Group Inc. raised its holdings in Akebia Therapeutics by 171.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock worth $5,231,000 after acquiring an additional 1,722,245 shares during the period. 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.