Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $6.00 Average Price Target from Brokerages

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.00.

Several analysts recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $5.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Wall Street Zen cut shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st.

Insider Activity

In related news, CAO Richard C. Malabre sold 49,524 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.39, for a total value of $68,838.36. Following the completion of the sale, the chief accounting officer directly owned 299,390 shares of the company’s stock, valued at approximately $416,152.10. This represents a 14.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in Akebia Therapeutics by 23.0% in the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 4,000 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Akebia Therapeutics by 13.1% during the first quarter. AQR Capital Management LLC now owns 176,961 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 20,499 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Akebia Therapeutics by 9.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,897 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 11,517 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Akebia Therapeutics by 171.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock worth $5,231,000 after purchasing an additional 1,722,245 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Akebia Therapeutics in the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Stock Performance

AKBA stock opened at $1.38 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.94 and a quick ratio of 1.80. Akebia Therapeutics has a 1 year low of $1.30 and a 1 year high of $4.08. The company has a market cap of $366.21 million, a P/E ratio of -19.71 and a beta of 0.38. The stock’s fifty day moving average price is $1.52 and its 200-day moving average price is $2.37.

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.