Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $4.67 Average PT from Analysts

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.6667.

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research cut shares of Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 target price on shares of Akebia Therapeutics in a report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Akebia Therapeutics in a research report on Wednesday, May 6th.

Akebia Therapeutics Trading Up 0.0%

Shares of Akebia Therapeutics stock opened at $0.94 on Thursday. Akebia Therapeutics has a 12-month low of $0.88 and a 12-month 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 stock has a market cap of $250.98 million, a PE ratio of -11.70 and a beta of 0.26. The company has a 50-day moving average of $1.24 and a two-hundred day moving average of $1.38.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $51.67 million. On average, research analysts anticipate that Akebia Therapeutics will post -0.1 EPS for the current fiscal year.

Institutional Trading of Akebia Therapeutics

Several large investors have recently modified their holdings of AKBA. Baird Financial Group Inc. grew its position in shares of Akebia Therapeutics by 23.0% in 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 during the last quarter. AQR Capital Management LLC grew its position in shares of Akebia Therapeutics by 13.1% in the first quarter. AQR Capital Management LLC now owns 176,961 shares of the biopharmaceutical company’s stock valued at $340,000 after purchasing an additional 20,499 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Akebia Therapeutics by 9.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,897 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 11,517 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Akebia Therapeutics by 171.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock valued at $5,231,000 after purchasing an additional 1,722,245 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Akebia Therapeutics by 123.0% in the second quarter. JPMorgan Chase & Co. now owns 1,652,746 shares of the biopharmaceutical company’s stock valued at $6,016,000 after purchasing an additional 911,585 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.