Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have earned an average recommendation of “Hold” from the five analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4.6667.

AKBA has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Akebia Therapeutics in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Akebia Therapeutics in a research report on Wednesday, May 6th. Zacks Research raised shares of Akebia Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Akebia Therapeutics in a report on Tuesday, April 7th.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.35 on Friday. The firm has a market cap of $362.15 million, a price-to-earnings ratio of -16.88 and a beta of 0.23. The company has a quick ratio of 1.33, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. The business has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.27. Akebia Therapeutics has a twelve month low of $0.82 and a twelve month high of $3.79.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Akebia Therapeutics had a negative return on equity of 62.72% and a negative net margin of 8.83%.The business had revenue of $53.54 million for the quarter, compared to analysts’ expectations of $51.67 million. As a group, equities research analysts predict that Akebia Therapeutics will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Akebia Therapeutics

In other news, CFO Erik Ostrowski sold 56,019 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $1.11, for a total transaction of $62,181.09. Following the completion of the transaction, the chief financial officer owned 616,616 shares in the company, valued at $684,443.76. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akebia Therapeutics

A number of hedge funds have recently made changes to their positions in AKBA. 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 acquiring an additional 4,000 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Akebia Therapeutics by 26.0% during the 2nd quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,798 shares during the last quarter. Polymer Capital Management US LLC grew its holdings in shares of Akebia Therapeutics by 49.5% in the third quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,034 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Akebia Therapeutics by 5.2% in the fourth quarter. Deutsche Bank AG now owns 164,655 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 8,103 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Akebia Therapeutics by 16.8% in the second quarter. Raymond James Financial Inc. now owns 59,502 shares of the biopharmaceutical company’s stock worth $217,000 after purchasing an additional 8,568 shares during the last quarter. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

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.