Akebia Therapeutics (NASDAQ:AKBA) Upgraded by StockNews.com to "Buy"

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Wednesday.

Separately, HC Wainwright boosted their price objective on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, March 28th.

Akebia Therapeutics Stock Performance

NASDAQ AKBA traded down $0.09 during mid-day trading on Wednesday, reaching $1.49. 8,601,905 shares of the stock were exchanged, compared to its average volume of 4,476,778. The stock has a market capitalization of $311.96 million, a PE ratio of -5.32 and a beta of 0.79. Akebia Therapeutics has a 1-year low of $0.49 and a 1-year high of $2.48. The business's fifty day simple moving average is $1.64 and its 200 day simple moving average is $1.30.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). The business had revenue of $56.20 million during the quarter, compared to analysts' expectations of $55.64 million. During the same period in the prior year, the firm earned ($0.04) EPS. On average, analysts anticipate that Akebia Therapeutics will post -0.28 EPS for the current year.

Insider Buying and Selling at Akebia Therapeutics

In related news, SVP Steven Keith Burke sold 24,311 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $40,842.48. Following the sale, the senior vice president now directly owns 711,376 shares of the company's stock, valued at approximately $1,195,111.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Akebia Therapeutics news, SVP Steven Keith Burke sold 24,311 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total transaction of $40,842.48. Following the completion of the transaction, the senior vice president now directly owns 711,376 shares of the company's stock, valued at approximately $1,195,111.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John P. Butler sold 46,489 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $78,101.52. Following the transaction, the chief executive officer now directly owns 2,128,883 shares in the company, valued at $3,576,523.44. The disclosure for this sale can be found here. Insiders sold 187,893 shares of company stock valued at $300,598 over the last 90 days. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akebia Therapeutics

A number of large investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Akebia Therapeutics by 65.8% during the 2nd quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company's stock worth $1,891,000 after purchasing an additional 2,124,161 shares during the last quarter. Renaissance Technologies LLC increased its position in Akebia Therapeutics by 103.5% during the third quarter. Renaissance Technologies LLC now owns 3,016,427 shares of the biopharmaceutical company's stock worth $954,000 after buying an additional 1,534,127 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Akebia Therapeutics by 162.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,042,816 shares of the biopharmaceutical company's stock valued at $646,000 after buying an additional 1,265,199 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Akebia Therapeutics by 8.8% in the first quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company's stock worth $10,339,000 after buying an additional 1,167,319 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Akebia Therapeutics by 367.4% in the second quarter. AQR Capital Management LLC now owns 862,168 shares of the biopharmaceutical company's stock worth $304,000 after buying an additional 677,703 shares during the last quarter. 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 adult patients.