Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,814,741 shares changed hands during trading, an increase of 23% from the previous session's volume of 3,113,107 shares.The stock last traded at $3.83 and had previously closed at $3.83.
Wall Street Analyst Weigh In
AKBA has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Leerink Partners assumed coverage on shares of Akebia Therapeutics in a research report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price objective on the stock. Leerink Partnrs raised shares of Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Finally, HC Wainwright assumed coverage on shares of Akebia Therapeutics in a research report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Akebia Therapeutics has a consensus rating of "Buy" and a consensus price target of $6.75.
Check Out Our Latest Stock Analysis on Akebia Therapeutics
Akebia Therapeutics Price Performance
The firm has a market capitalization of $934.98 million, a P/E ratio of -15.48 and a beta of 0.85. The business's 50-day moving average is $2.59 and its 200 day moving average is $2.20.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its quarterly 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 business had revenue of $57.34 million for the quarter, compared to the consensus estimate of $44.88 million. Analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.
Insider Buying and Selling
In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.01, for a total transaction of $60,150.00. Following the sale, the chief accounting officer now directly owns 266,914 shares in the company, valued at $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 SEC, which is available at the SEC website. 3.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Akebia Therapeutics
Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Akebia Therapeutics by 117.9% during the fourth quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company's stock worth $1,033,000 after buying an additional 294,343 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Akebia Therapeutics by 24.1% during the 4th quarter. Wellington Management Group LLP now owns 502,127 shares of the biopharmaceutical company's stock valued at $954,000 after purchasing an additional 97,409 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Akebia Therapeutics by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock valued at $240,000 after purchasing an additional 12,232 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Akebia Therapeutics by 64.0% during the 4th quarter. Deutsche Bank AG now owns 181,048 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 70,663 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Akebia Therapeutics by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company's stock valued at $9,112,000 after purchasing an additional 40,631 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.
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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