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

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a buy rating in a report released on Friday.

Separately, HC Wainwright lifted their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the company a buy rating in a research report on Thursday, March 28th.

Akebia Therapeutics Stock Performance

Shares of Akebia Therapeutics stock opened at $1.36 on Friday. Akebia Therapeutics has a one year low of $0.65 and a one year high of $2.48. The company has a market cap of $284.74 million, a price-to-earnings ratio of -4.86 and a beta of 0.79. The business’s 50 day moving average price is $1.59 and its 200 day moving average price is $1.33.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results 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 quarter in the prior year, the firm earned ($0.04) EPS. On average, analysts predict that Akebia Therapeutics will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Archer Investment Corp acquired a new stake in shares of Akebia Therapeutics in the 4th quarter valued at approximately $25,000. Eagle Wealth Strategies LLC acquired a new stake in shares of Akebia Therapeutics in the 4th quarter valued at approximately $25,000. Mackenzie Financial Corp lifted its holdings in shares of Akebia Therapeutics by 37.6% in the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 6,330 shares during the period. Compass Ion Advisors LLC acquired a new stake in shares of Akebia Therapeutics in the 1st quarter valued at approximately $46,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Akebia Therapeutics in the 1st quarter valued at approximately $51,000. Hedge funds and other institutional investors 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 patients.