Stock analysts at Needham & Company LLC started coverage on shares of Akebia Therapeutics (NASDAQ:AKBA) in a report issued on Monday, TipRanks reports. The brokerage set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 41.73% from the company’s previous close.
Several other brokerages have also recently commented on AKBA. ValuEngine raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. raised their target price on shares of Akebia Therapeutics from $13.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Investment Research raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Monday, June 22nd. HC Wainwright raised their target price on shares of Akebia Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, BidaskClub raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $15.14.
Shares of NASDAQ:AKBA opened at $12.70 on Monday. Akebia Therapeutics has a 52-week low of $2.99 and a 52-week high of $13.68. The company has a market capitalization of $1.65 billion, a P/E ratio of -5.75 and a beta of 1.41. The company has a 50-day simple moving average of $11.94 and a 200 day simple moving average of $8.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.59.
Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.15. The business had revenue of $88.48 million during the quarter, compared to the consensus estimate of $77.54 million. Akebia Therapeutics had a negative net margin of 76.39% and a negative return on equity of 45.52%. As a group, equities analysts forecast that Akebia Therapeutics will post -1.59 earnings per share for the current year.
In other Akebia Therapeutics news, Director Maxine Gowen sold 4,567 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $11.84, for a total transaction of $54,073.28. Also, insider Dell Faulkingham sold 6,426 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $11.58, for a total transaction of $74,413.08. Following the sale, the insider now directly owns 73,574 shares in the company, valued at approximately $851,986.92. The disclosure for this sale can be found here. Company insiders own 2.55% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in shares of Akebia Therapeutics during the fourth quarter worth $27,000. Great West Life Assurance Co. Can bought a new stake in shares of Akebia Therapeutics during the fourth quarter worth $28,000. Meeder Asset Management Inc. grew its stake in shares of Akebia Therapeutics by 230.8% during the fourth quarter. Meeder Asset Management Inc. now owns 4,741 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 3,308 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Akebia Therapeutics by 30.6% during the first quarter. Valeo Financial Advisors LLC now owns 7,445 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 1,745 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Akebia Therapeutics during the first quarter worth $53,000. 70.10% of the stock is currently owned by hedge funds and other institutional investors.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.
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