Akebia Therapeutics, Inc. (NASDAQ:AKBA) Given Consensus Rating of "Buy" by Analysts

Key Points

• Akebia Therapeutics has received an average consensus rating of "Buy" from six analysts, with a 1-year target price of $6.75.
• Recent downgrade occurrences include Zacks Research lowering its rating to "hold" and Wall Street Zen adjusting from "strong-buy" to "buy".
• Institutional investors have increased their stake, with 33.92% of Akebia’s stock now owned by hedge funds and other institutional investors.

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) has received an average rating of "Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.75.

Several brokerages recently commented on AKBA. Zacks Research downgraded shares of Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Akebia Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, HC Wainwright started coverage on shares of Akebia Therapeutics in a research report on Wednesday, June 4th. They set a "buy" rating and a $8.00 target price on the stock.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA opened at $2.74 on Friday. The company has a market capitalization of $726.48 million, a price-to-earnings ratio of -16.12 and a beta of 1.02. Akebia Therapeutics has a 12 month low of $1.24 and a 12 month high of $4.08. The firm's 50-day moving average is $3.22 and its 200 day moving average is $2.94. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61.

Insider Activity at Akebia Therapeutics

In other news, CFO Erik Ostrowski sold 41,314 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $3.67, for a total transaction of $151,622.38. Following the transaction, the chief financial officer directly owned 503,586 shares of the company's stock, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Akebia Therapeutics

Institutional investors have recently modified their holdings of the stock. Abel Hall LLC purchased a new position in shares of Akebia Therapeutics during the second quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in Akebia Therapeutics during the second quarter valued at approximately $59,000. Unified Investment Management increased its holdings in Akebia Therapeutics by 47.8% during the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 5,500 shares during the period. Brevan Howard Capital Management LP purchased a new position in Akebia Therapeutics during the second quarter valued at approximately $62,000. Finally, Savant Capital LLC purchased a new position in Akebia Therapeutics during the second quarter valued at approximately $69,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

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 patients.

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