Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report)'s share price traded up 7% during trading on Wednesday . The stock traded as high as $3.76 and last traded at $3.76. 640,459 shares changed hands during trading, a decline of 85% from the average session volume of 4,133,906 shares. The stock had previously closed at $3.51.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. HC Wainwright assumed coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They set a "buy" rating and a $8.00 target price on the stock. Leerink Partners assumed coverage on Akebia Therapeutics in a report on Monday, April 28th. They set an "outperform" rating and a $7.00 target price on the stock. Wall Street Zen raised Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Finally, Leerink Partnrs raised Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Akebia Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $6.75.
Check Out Our Latest Stock Analysis on Akebia Therapeutics
Akebia Therapeutics Stock Up 1.1%
The company has a market cap of $977.02 million, a PE ratio of -17.71 and a beta of 0.96. The business has a 50-day simple moving average of $3.63 and a 200-day simple moving average of $2.66. The company has a quick ratio of 2.02, a current ratio of 2.23 and a debt-to-equity ratio of 1.89.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly 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 business had revenue of $57.34 million for the quarter, compared to analysts' expectations of $44.88 million. Equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.
Insider Buying and Selling
In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.01, for a total transaction of $60,150.00. Following the transaction, the chief accounting officer owned 266,914 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Erik Ostrowski sold 41,314 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $3.67, for a total value of $151,622.38. Following the transaction, the chief financial officer owned 503,586 shares in the company, valued at $1,848,160.62. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,648 shares of company stock worth $258,841 in the last quarter. 3.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Akebia Therapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mariner LLC purchased a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $28,000. Unified Investment Management lifted its position in shares of Akebia Therapeutics by 47.8% in the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 5,500 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Akebia Therapeutics by 51.9% in the first quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 6,595 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $39,000. Finally, Baird Financial Group Inc. lifted its position in shares of Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other 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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