Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reissued by investment analysts at Mizuho in a research report issued to clients and investors on Tuesday. They presently have a $24.00 price target on the biopharmaceutical company’s stock. Mizuho’s price objective suggests a potential upside of 77.51% from the company’s current price.
Several other brokerages have also recently issued reports on AKBA. Piper Jaffray Companies started coverage on Akebia Therapeutics in a research note on Monday, December 18th. They issued an “overweight” rating and a $26.00 price objective on the stock. ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday, November 13th. BTIG Research started coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, BidaskClub cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.20.
Shares of Akebia Therapeutics (AKBA) opened at $13.52 on Tuesday. Akebia Therapeutics has a fifty-two week low of $8.69 and a fifty-two week high of $20.25. The firm has a market capitalization of $665.55, a P/E ratio of -4.28 and a beta of 0.80.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. bought a new stake in Akebia Therapeutics during the 3rd quarter valued at $183,000. Teacher Retirement System of Texas bought a new stake in Akebia Therapeutics during the 4th quarter valued at $188,000. Campbell & CO Investment Adviser LLC bought a new stake in Akebia Therapeutics during the 3rd quarter valued at $200,000. Caxton Associates LP bought a new stake in Akebia Therapeutics during the 3rd quarter valued at $246,000. Finally, Voya Investment Management LLC boosted its position in Akebia Therapeutics by 11.7% during the 2nd quarter. Voya Investment Management LLC now owns 18,454 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 1,933 shares in the last quarter. 71.23% of the stock is currently owned by institutional investors and hedge funds.
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About Akebia Therapeutics
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
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