Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives Consensus Rating of “Hold” from Analysts

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.6667.

AKBA has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Akebia Therapeutics in a research report on Friday, February 6th. Wall Street Zen lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. 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 report on Friday, February 6th. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, April 7th. Finally, Zacks Research lowered Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday.

Akebia Therapeutics Trading Down 1.7%

AKBA stock opened at $1.16 on Friday. Akebia Therapeutics has a 1-year low of $1.13 and a 1-year high of $4.08. The firm has a market cap of $311.17 million, a P/E ratio of -14.50 and a beta of 0.35. The business’s 50 day moving average is $1.38 and its 200-day moving average is $1.57. The company has a current ratio of 1.55, a quick ratio of 1.46 and a debt-to-equity ratio of 1.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $53.54 million during the quarter, compared to the consensus estimate of $51.67 million. Akebia Therapeutics had a negative net margin of 8.83% and a negative return on equity of 59.49%. Equities analysts anticipate that Akebia Therapeutics will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akebia Therapeutics news, CEO John P. Butler purchased 69,270 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average cost of $1.25 per share, for a total transaction of $86,587.50. Following the transaction, the chief executive officer directly owned 3,367,064 shares in the company, valued at approximately $4,208,830. The trade was a 2.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in Akebia Therapeutics during the 3rd quarter worth approximately $42,000. Cibc World Markets Corp bought a new position in Akebia Therapeutics in the 4th quarter valued at $27,000. Brevan Howard Capital Management LP bought a new position in Akebia Therapeutics in the 2nd quarter valued at $62,000. Unified Investment Management bought a new position in Akebia Therapeutics in the 3rd quarter valued at $49,000. Finally, Polymer Capital Management US LLC boosted its position in Akebia Therapeutics by 49.5% in the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 6,034 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors.

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.