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

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) have been given an average rating of "Buy" by the five brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.75.

A number of equities analysts recently commented on the stock. Leerink Partnrs upgraded shares of Akebia Therapeutics to a "strong-buy" rating in a research note on Monday, April 28th. Jefferies Financial Group began coverage on shares of Akebia Therapeutics in a research report on Tuesday, April 1st. They issued a "buy" rating and a $6.00 price target for the company. Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. HC Wainwright began coverage on shares of Akebia Therapeutics in a research report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price target for the company. Finally, Leerink Partners began coverage on shares of Akebia Therapeutics in a research report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target for the company.

Akebia Therapeutics Stock Down 0.5%

Shares of AKBA stock traded down $0.02 on Monday, reaching $3.88. 1,873,931 shares of the stock were exchanged, compared to its average volume of 3,148,621. The company has a current ratio of 2.23, a quick ratio of 2.02 and a debt-to-equity ratio of 1.89. The business's 50 day moving average price is $3.37 and its 200 day moving average price is $2.49. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -18.48 and a beta of 0.88. Akebia Therapeutics has a twelve month low of $1.07 and a twelve month high of $4.08.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million for the quarter, compared to analyst estimates of $44.88 million. As a group, sell-side analysts expect that Akebia Therapeutics will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Akebia Therapeutics

In other news, CAO Richard C. Malabre sold 15,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.01, for a total value of $60,150.00. Following the completion of the sale, the chief accounting officer directly owned 266,914 shares of the company's stock, valued at approximately $1,070,325.14. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erik Ostrowski sold 41,314 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $3.67, for a total transaction of $151,622.38. Following the completion of the sale, the chief financial officer directly owned 503,586 shares of the company's stock, valued at $1,848,160.62. The trade was a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,648 shares of company stock valued at $258,841 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Akebia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Akebia Therapeutics during the second quarter worth about $99,000. Wealth Enhancement Advisory Services LLC purchased a new position in Akebia Therapeutics during the second quarter worth about $59,000. Goldman Sachs Group Inc. raised its holdings in Akebia Therapeutics by 171.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock worth $5,231,000 after purchasing an additional 1,722,245 shares in the last quarter. Rhumbline Advisers raised its holdings in Akebia Therapeutics by 6.3% during the first quarter. Rhumbline Advisers now owns 282,066 shares of the biopharmaceutical company's stock worth $542,000 after purchasing an additional 16,677 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Akebia Therapeutics during the first quarter worth about $4,772,000. 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.