HC Wainwright Reaffirms Buy Rating for Akebia Therapeutics (NASDAQ:AKBA)

HC Wainwright reaffirmed their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research report released on Tuesday,Benzinga reports. They currently have a $7.50 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th.

Akebia Therapeutics Trading Up 1.1 %

Shares of AKBA opened at $1.89 on Tuesday. The company has a market cap of $412.36 million, a price-to-earnings ratio of -8.22 and a beta of 0.72. The business’s fifty day simple moving average is $1.91 and its two-hundred day simple moving average is $1.56. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, research analysts forecast that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Trading of Akebia Therapeutics

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Akebia Therapeutics by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 9,662 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at about $221,000. Barclays PLC lifted its stake in shares of Akebia Therapeutics by 276.1% in the 3rd quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 200,482 shares during the period. Geode Capital Management LLC lifted its stake in shares of Akebia Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after purchasing an additional 218,172 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Akebia Therapeutics in the third quarter worth approximately $58,000. 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.