Akebia Therapeutics (NASDAQ:AKBA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBAFree Report) from a hold rating to a buy rating in a report issued on Friday morning.

Separately, HC Wainwright raised their price objective on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a buy rating in a research report on Thursday, March 28th.

Read Our Latest Stock Analysis on Akebia Therapeutics

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $1.36 on Friday. Akebia Therapeutics has a 52-week low of $0.59 and a 52-week high of $2.48. The firm has a 50 day moving average price of $1.60 and a two-hundred day moving average price of $1.33. The firm has a market cap of $284.74 million, a price-to-earnings ratio of -4.86 and a beta of 0.79.

Akebia Therapeutics (NASDAQ:AKBAGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $56.20 million for the quarter, compared to the consensus estimate of $55.64 million. During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, equities research analysts predict that Akebia Therapeutics will post -0.28 EPS for the current fiscal year.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, SVP Steven Keith Burke sold 24,311 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $40,842.48. Following the transaction, the senior vice president now directly owns 711,376 shares in the company, valued at approximately $1,195,111.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO John P. Butler sold 46,489 shares of Akebia Therapeutics stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $78,101.52. Following the sale, the chief executive officer now directly owns 2,128,883 shares in the company, valued at approximately $3,576,523.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven Keith Burke sold 24,311 shares of Akebia Therapeutics stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $40,842.48. Following the sale, the senior vice president now owns 711,376 shares in the company, valued at $1,195,111.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,893 shares of company stock valued at $300,598. 3.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akebia Therapeutics

A number of hedge funds have recently made changes to their positions in AKBA. Swiss National Bank raised its stake in Akebia Therapeutics by 7.8% in the 1st quarter. Swiss National Bank now owns 393,085 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 28,300 shares during the period. MetLife Investment Management LLC raised its stake in Akebia Therapeutics by 176.6% in the 1st quarter. MetLife Investment Management LLC now owns 85,186 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 54,389 shares during the period. Dimensional Fund Advisors LP grew its holdings in Akebia Therapeutics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,666,861 shares of the biopharmaceutical company’s stock valued at $1,915,000 after buying an additional 73,020 shares in the last quarter. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock valued at $10,339,000 after buying an additional 1,167,319 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Akebia Therapeutics by 282.7% during the 1st quarter. XTX Topco Ltd now owns 102,392 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 75,635 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors.

Akebia Therapeutics Company Profile

(Get Free Report)

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 patients.

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