Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock Has Average Target Price of $3.90

Key Points

• Analysts have a consensus “Hold” rating on Akebia Therapeutics, with four buys, two holds, and one sell; the average 12-month price target is $3.90.
• AKBA traded at $0.88, down 3.5%, with shares near their 52-week low of $0.81. The company reported quarterly revenue of $49.13 million and an adjusted loss of $0.02 per share, beating estimates.
• Institutional investors own 33.92% of the stock, while Akebia’s lead product, Vafseo, is approved in the U.S. for treating dialysis patients with anemia caused by chronic kidney disease.

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) has received a consensus recommendation of "Hold" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $3.90.

AKBA has been the topic of a number of research analyst reports. Westpark Capital initiated coverage on Akebia Therapeutics in a report on Tuesday, September 8th. They set a "buy" rating and a $4.50 price target on the stock. HC Wainwright reissued a "buy" rating on shares of Akebia Therapeutics in a research report on Thursday, August 6th. BTIG Research restated a "buy" rating and set a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, September 15th. Weiss Ratings cut shares of Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. Finally, Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 12th.

Akebia Therapeutics Trading Down 3.5%

NASDAQ:AKBA opened at $0.88 on Wednesday. The company's 50 day moving average price is $0.96 and its 200-day moving average price is $1.14. Akebia Therapeutics has a 52 week low of $0.81 and a 52 week high of $3.20. The company has a quick ratio of 1.35, a current ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock has a market cap of $243.44 million, a price-to-earnings ratio of -7.99 and a beta of 0.18.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Akebia Therapeutics had a negative return on equity of 88.88% and a negative net margin of 13.54%.The business had revenue of $49.13 million for the quarter, compared to analysts' expectations of $48.85 million. On average, equities research analysts forecast that Akebia Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC raised its stake in shares of Akebia Therapeutics by 60.3% in the second quarter. Headlands Technologies LLC now owns 77,992 shares of the biopharmaceutical company's stock worth $89,000 after buying an additional 29,334 shares during the period. Two Sigma Securities LLC purchased a new stake in Akebia Therapeutics in the 2nd quarter worth approximately $46,000. Nantahala Capital Management LLC purchased a new stake in Akebia Therapeutics in the 2nd quarter worth approximately $2,280,000. Public Employees Retirement System of Ohio bought a new stake in Akebia Therapeutics during the 2nd quarter worth approximately $336,000. Finally, Bank of America Corp DE bought a new stake in Akebia Therapeutics during the 2nd quarter worth approximately $523,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for patients with kidney disease and related complications. The company's portfolio centers on therapies for anemia associated with chronic kidney disease (CKD), a condition that can result from reduced kidney function and insufficient production of erythropoietin.

Akebia's primary product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor. In the United States, Vafseo is approved to treat anemia due to CKD in adults who have been receiving dialysis for at least three months.

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