Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report)'s stock price was up 2.8% during trading on Thursday . The company traded as high as $3.67 and last traded at $3.67. Approximately 751,047 shares changed hands during trading, a decline of 76% from the average daily volume of 3,159,335 shares. The stock had previously closed at $3.57.
Analyst Ratings Changes
A number of equities analysts have weighed in on AKBA shares. Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Leerink Partnrs upgraded shares of Akebia Therapeutics to a "strong-buy" rating in a research 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 objective on the stock. HC Wainwright initiated coverage on Akebia Therapeutics in a research note on Wednesday, June 4th. They issued a "buy" rating and a $8.00 target price for the company. Finally, 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 target price for the company. One 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. According to MarketBeat, Akebia Therapeutics has an average rating of "Buy" and a consensus target price of $6.75.
Check Out Our Latest Analysis on Akebia Therapeutics
Akebia Therapeutics Stock Down 2.5%
The firm has a market capitalization of $934.98 million, a price-to-earnings ratio of -15.48 and a beta of 0.85. The company's fifty day moving average is $2.63 and its two-hundred day moving average is $2.21.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating 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. On average, equities research analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.
Insider Buying and Selling at Akebia Therapeutics
In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of Akebia Therapeutics stock in a transaction dated 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 now directly owns 266,914 shares in the company, valued at approximately $1,070,325.14. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.00% of the company's stock.
Institutional Trading of Akebia Therapeutics
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Akebia Therapeutics by 16.6% in the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock valued at $24,357,000 after buying an additional 1,801,603 shares during the period. Geode Capital Management LLC lifted its position 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 acquiring an additional 40,631 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Akebia Therapeutics by 2.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company's stock worth $7,265,000 after purchasing an additional 105,727 shares during the period. AIGH Capital Management LLC bought a new position in Akebia Therapeutics during the 1st quarter worth about $5,616,000. Finally, Goldman Sachs Group Inc. increased its holdings in Akebia Therapeutics by 171.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock worth $5,231,000 after purchasing an additional 1,722,245 shares in the last quarter. 33.92% of the stock is owned by institutional investors.
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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