Akebia Therapeutics Inc (NASDAQ:AKBA) Receives Average Rating of “Buy” from Brokerages

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Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) have been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.80.

Several brokerages have recently issued reports on AKBA. Needham & Company LLC dropped their target price on shares of Akebia Therapeutics from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Mizuho reiterated a “buy” rating and issued a $16.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, November 19th. ValuEngine downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 18th. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, BidaskClub upgraded shares of Akebia Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 18th.

NASDAQ:AKBA opened at $8.75 on Friday. Akebia Therapeutics has a one year low of $2.99 and a one year high of $9.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 0.82. The company’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $5.31. The firm has a market capitalization of $1.07 billion, a P/E ratio of -3.50 and a beta of 1.71.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.09). The firm had revenue of $91.98 million during the quarter, compared to the consensus estimate of $93.94 million. Akebia Therapeutics had a negative return on equity of 32.74% and a negative net margin of 75.39%. On average, equities research analysts expect that Akebia Therapeutics will post -1.44 earnings per share for the current fiscal year.

In related news, CEO John P. Butler acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $3.44 per share, for a total transaction of $172,000.00. Following the completion of the transaction, the chief executive officer now directly owns 63,700 shares in the company, valued at $219,128. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven Keith Burke acquired 27,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $3.58 per share, for a total transaction of $96,660.00. Following the transaction, the senior vice president now owns 37,000 shares of the company’s stock, valued at $132,460. The disclosure for this purchase can be found here. In the last quarter, insiders bought 82,800 shares of company stock worth $288,554. Insiders own 2.66% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its position in Akebia Therapeutics by 33.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,358,100 shares of the biopharmaceutical company’s stock valued at $14,903,000 after purchasing an additional 585,800 shares during the period. Goldman Sachs Group Inc. lifted its position in Akebia Therapeutics by 142.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 748,386 shares of the biopharmaceutical company’s stock valued at $4,730,000 after purchasing an additional 439,972 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Akebia Therapeutics by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 728,621 shares of the biopharmaceutical company’s stock valued at $4,605,000 after purchasing an additional 26,565 shares during the period. Bank of New York Mellon Corp lifted its position in Akebia Therapeutics by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 692,358 shares of the biopharmaceutical company’s stock valued at $4,376,000 after purchasing an additional 23,801 shares during the period. Finally, Bank of America Corp DE lifted its position in Akebia Therapeutics by 30.2% during the second quarter. Bank of America Corp DE now owns 368,379 shares of the biopharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 85,513 shares during the period. Institutional investors own 70.19% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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