Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $2.98 and last traded at $2.94, with a volume of 1668102 shares trading hands. The stock had previously closed at $2.86.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on AKBA shares. Leerink Partnrs raised Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. Leerink Partners began coverage on Akebia Therapeutics in a report on Monday, April 28th. They set an "outperform" rating and a $7.00 price target for the company. Wall Street Zen upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Piper Sandler lifted their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Finally, Jefferies Financial Group initiated 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 on the stock. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $6.63.
Check Out Our Latest Stock Report on AKBA
Akebia Therapeutics Price Performance
The firm's fifty day moving average price is $2.20 and its two-hundred day moving average price is $2.06. The stock has a market cap of $770.84 million, a price-to-earnings ratio of -12.76 and a beta of 0.88.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $57.34 million for the quarter, compared to the consensus estimate of $44.88 million. On average, equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.
Institutional Investors Weigh In On Akebia Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of AKBA. JPMorgan Chase & Co. increased its holdings in shares of Akebia Therapeutics by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company's stock worth $130,000 after purchasing an additional 9,662 shares during the period. SG Americas Securities LLC increased its holdings in shares of Akebia Therapeutics by 62.3% in the 4th quarter. SG Americas Securities LLC now owns 116,771 shares of the biopharmaceutical company's stock worth $222,000 after buying an additional 44,806 shares during the last quarter. AlphaMark Advisors LLC purchased a new stake in shares of Akebia Therapeutics during the 4th quarter valued at $73,000. Wealth Effects LLC lifted its stake in Akebia Therapeutics by 18.5% during the fourth quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Akebia Therapeutics by 9.3% during the fourth quarter. Rhumbline Advisers now owns 265,389 shares of the biopharmaceutical company's stock valued at $504,000 after acquiring an additional 22,513 shares during the last quarter. Institutional investors own 33.92% of the company's stock.
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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