Akebia Therapeutics (NASDAQ:AKBA – Free Report) had its target price increased by HC Wainwright from $3.75 to $5.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.
Separately, StockNews.com assumed coverage on Akebia Therapeutics in a report on Thursday, October 5th. They issued a hold rating on the stock.
Akebia Therapeutics Stock Up 2.0 %
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Akebia Therapeutics had a negative return on equity of 249.60% and a negative net margin of 30.68%. The company had revenue of $42.05 million for the quarter, compared to analysts’ expectations of $48.19 million. During the same period in the previous year, the firm posted ($0.28) EPS. On average, sell-side analysts expect that Akebia Therapeutics will post -0.34 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Akebia Therapeutics by 27.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,719,061 shares of the biopharmaceutical company’s stock worth $1,960,000 after purchasing an additional 373,029 shares during the last quarter. Creative Planning acquired a new position in Akebia Therapeutics in the third quarter valued at approximately $126,000. FMR LLC lifted its holdings in Akebia Therapeutics by 4.0% in the third quarter. FMR LLC now owns 638,090 shares of the biopharmaceutical company’s stock valued at $727,000 after acquiring an additional 24,500 shares during the last quarter. Citigroup Inc. lifted its holdings in Akebia Therapeutics by 311,608.2% in the third quarter. Citigroup Inc. now owns 152,737 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 152,688 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Akebia Therapeutics by 35.5% in the third quarter. HighTower Advisors LLC now owns 95,350 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 25,000 shares during the last quarter. 27.04% of the stock is currently owned by institutional investors and hedge funds.
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.
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