Akebia Therapeutics (NASDAQ:AKBA) Price Target Raised to $6.00

Akebia Therapeutics (NASDAQ:AKBA) had its price target boosted by analysts at HC Wainwright from $5.00 to $6.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 201.51% from the stock’s current price.

Several other analysts have also issued reports on AKBA. StockNews.com lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. BTIG Research reissued a “buy” rating and issued a $4.00 price target on shares of Akebia Therapeutics in a research report on Wednesday, November 29th.

Akebia Therapeutics Stock Down 11.2 %

Akebia Therapeutics stock traded down $0.25 during midday trading on Thursday, hitting $1.99. 42,733,060 shares of the stock were exchanged, compared to its average volume of 3,881,934. Akebia Therapeutics has a 52-week low of $0.49 and a 52-week high of $2.48. The stock has a market capitalization of $416.65 million, a price-to-earnings ratio of -7.18 and a beta of 0.78. The business’s 50-day moving average price is $1.62 and its 200-day moving average price is $1.29.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $55.64 million. During the same quarter last year, the firm posted ($0.04) earnings per share. On average, sell-side analysts predict that Akebia Therapeutics will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John P. Butler sold 46,570 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the sale, the chief executive officer now owns 2,044,580 shares of the company’s stock, valued at approximately $3,230,436.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Steven Keith Burke sold 24,311 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $40,842.48. Following the completion of the sale, the senior vice president now owns 711,376 shares of the company’s stock, valued at approximately $1,195,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John P. Butler sold 46,570 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the completion of the sale, the chief executive officer now directly owns 2,044,580 shares of the company’s stock, valued at approximately $3,230,436.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,893 shares of company stock valued at $300,598. Company insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Akebia Therapeutics by 14.1% in the 3rd quarter. Victory Capital Management Inc. now owns 755,488 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 93,590 shares in the last quarter. State of Wyoming purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at $44,000. Mirabella Financial Services LLP purchased a new stake in Akebia Therapeutics during the 1st quarter valued at $40,000. HighTower Advisors LLC boosted its position in Akebia Therapeutics by 18.4% during the 1st quarter. HighTower Advisors LLC now owns 70,350 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 10,925 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Akebia Therapeutics by 123.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 50,066 shares during the period. 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 adult patients.