Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.00.

A number of equities analysts recently issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $5.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Wall Street Zen cut Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, October 8th.

Akebia Therapeutics Stock Up 2.0%

Shares of NASDAQ AKBA opened at $1.52 on Monday. The firm has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $2.68. Akebia Therapeutics has a 12 month low of $1.45 and a 12 month high of $4.08. The company has a current ratio of 1.94, a quick ratio of 1.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $403.36 million, a PE ratio of -21.71 and a beta of 0.35.

Institutional Trading of Akebia Therapeutics

A number of hedge funds have recently modified their holdings of AKBA. Goldman Sachs Group Inc. boosted its stake in Akebia Therapeutics by 171.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock worth $5,231,000 after acquiring an additional 1,722,245 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Akebia Therapeutics in the 2nd quarter worth approximately $99,000. Woodline Partners LP bought a new stake in shares of Akebia Therapeutics in the 1st quarter worth approximately $4,772,000. Geode Capital Management LLC grew its stake in shares of Akebia Therapeutics by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,074,458 shares of the biopharmaceutical company’s stock worth $22,115,000 after buying an additional 1,043,718 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Akebia Therapeutics by 28.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,579,355 shares of the biopharmaceutical company’s stock valued at $3,032,000 after buying an additional 350,645 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.