Akebia Therapeutics (NASDAQ:AKBA) Shares Up 4.8% - Still a Buy?

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report)'s stock price was up 4.8% on Wednesday . The company traded as high as $3.65 and last traded at $3.59. Approximately 1,385,320 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,992,963 shares. The stock had previously closed at $3.42.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AKBA shares. Leerink Partnrs upgraded shares of Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. HC Wainwright began coverage on Akebia Therapeutics in a research report on Wednesday. They set a "buy" rating and a $8.00 price objective on the stock. Jefferies Financial Group began coverage on Akebia Therapeutics in a research report on Tuesday, April 1st. They set a "buy" rating and a $6.00 price objective on the stock. Leerink Partners assumed coverage on Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target for the company. Finally, Piper Sandler increased their price target on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $6.75.

Akebia Therapeutics Stock Up 1.4%

The stock has a market capitalization of $969.13 million, a PE ratio of -16.04 and a beta of 0.88. The company has a 50-day moving average of $2.40 and a 200 day moving average of $2.14.

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

Insiders Place Their Bets

In related news, CAO Richard C. Malabre sold 13,334 shares of Akebia Therapeutics stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $3.53, for a total value of $47,069.02. Following the completion of the transaction, the chief accounting officer now directly owns 266,914 shares in the company, valued at approximately $942,206.42. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Akebia Therapeutics

A number of hedge funds have recently bought and sold shares of AKBA. SG Americas Securities LLC raised its holdings in Akebia Therapeutics by 62.3% in the fourth quarter. SG Americas Securities LLC now owns 116,771 shares of the biopharmaceutical company's stock valued at $222,000 after acquiring an additional 44,806 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Akebia Therapeutics by 9.3% during the fourth quarter. Rhumbline Advisers now owns 265,389 shares of the biopharmaceutical company's stock worth $504,000 after purchasing an additional 22,513 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Akebia Therapeutics by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 497,547 shares of the biopharmaceutical company's stock valued at $945,000 after acquiring an additional 27,839 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the fourth quarter worth about $26,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Akebia Therapeutics by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,710 shares of the biopharmaceutical company's stock worth $1,115,000 after acquiring an additional 18,043 shares during the period. Institutional investors and hedge funds own 33.92% of the company's stock.

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.