Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report)'s stock price traded up 4.8% on Wednesday . The company traded as high as $3.65 and last traded at $3.59. 1,385,320 shares changed hands during trading, a decline of 54% from the average session volume of 2,992,963 shares. The stock had previously closed at $3.42.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Leerink Partners assumed coverage on shares of Akebia Therapeutics in a research note on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target on the stock. Piper Sandler boosted 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. HC Wainwright initiated coverage on Akebia Therapeutics in a report on Wednesday. They issued a "buy" rating and a $8.00 price objective for the company. Finally, Leerink Partnrs raised Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $6.75.
Read Our Latest Report on Akebia Therapeutics
Akebia Therapeutics Price Performance
The stock has a market capitalization of $1.04 billion, a P/E ratio of -17.26 and a beta of 0.85. The company's 50-day simple moving average is $2.44 and its 200-day simple moving average is $2.15.
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, beating analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million during the quarter, compared to the consensus estimate of $44.88 million. On average, analysts forecast that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.
Insider Buying and Selling at Akebia Therapeutics
In other news, CAO Richard C. Malabre sold 13,334 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $3.53, for a total transaction of $47,069.02. Following the completion of the sale, the chief accounting officer now owns 266,914 shares in the company, valued at approximately $942,206.42. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.00% of the company's stock.
Institutional Investors Weigh In On Akebia Therapeutics
Several hedge funds have recently bought and sold shares of AKBA. Wellington Management Group LLP boosted its stake in shares of Akebia Therapeutics by 24.1% in the fourth quarter. Wellington Management Group LLP now owns 502,127 shares of the biopharmaceutical company's stock valued at $954,000 after buying an additional 97,409 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Akebia Therapeutics by 10.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock worth $240,000 after purchasing an additional 12,232 shares in the last quarter. Geode Capital Management LLC raised its holdings in Akebia Therapeutics by 0.9% in 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 buying an additional 40,631 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Akebia Therapeutics by 64.0% during the fourth quarter. Deutsche Bank AG now owns 181,048 shares of the biopharmaceutical company's stock worth $344,000 after purchasing an additional 70,663 shares during the period. Finally, Barclays PLC grew its position in shares of Akebia Therapeutics by 37.5% in the 4th quarter. Barclays PLC now owns 375,495 shares of the biopharmaceutical company's stock valued at $713,000 after buying an additional 102,410 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.
About Akebia Therapeutics
(
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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