Akebia Therapeutics (NASDAQ:AKBA) Given New $4.00 Price Target at BTIG Research

Akebia Therapeutics (NASDAQ:AKBA) had its price target reduced by equities researchers at BTIG Research from $5.00 to $4.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price objective points to a potential upside of 222.58% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Akebia Therapeutics in a report on Friday, February 6th. Piper Sandler decreased their price target on Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Wall Street Zen cut Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.40.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $1.24 on Wednesday. The company has a market capitalization of $329.06 million, a price-to-earnings ratio of -17.71 and a beta of 0.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.80 and a current ratio of 1.94. Akebia Therapeutics has a 1 year low of $1.14 and a 1 year high of $4.08. The company’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $2.13.

Insider Transactions at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 49,524 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.39, for a total value of $68,838.36. Following the transaction, the chief accounting officer directly owned 299,390 shares of the company’s stock, valued at $416,152.10. This trade represents a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Akebia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AKBA. Cibc World Markets Corp acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $27,000. Caption Management LLC purchased a new position in Akebia Therapeutics in the 4th quarter worth approximately $40,000. Baird Financial Group Inc. grew its position in 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 acquiring an additional 4,000 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Akebia Therapeutics in the third quarter valued at approximately $42,000. Finally, Unified Investment Management purchased a new stake in shares of Akebia Therapeutics during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

About Akebia Therapeutics

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.