BidaskClub Upgrades Akebia Therapeutics, Inc. (AKBA) to Hold
BidaskClub upgraded shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) from a sell rating to a hold rating in a research report released on Wednesday morning.
Other equities analysts also recently issued reports about the company. ValuEngine upgraded Akebia Therapeutics from a sell rating to a hold rating in a research report on Friday, June 2nd. UBS AG restated a buy rating and set a $17.00 price objective (up from $12.00) on shares of Akebia Therapeutics in a research report on Friday, May 5th. HC Wainwright raised their price objective on Akebia Therapeutics from $18.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, April 27th. Aegis restated a buy rating on shares of Akebia Therapeutics in a research report on Friday, June 30th. Finally, Needham & Company LLC restated a buy rating and set a $18.00 price objective (up from $14.00) on shares of Akebia Therapeutics in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Akebia Therapeutics has an average rating of Buy and a consensus price target of $20.29.
Shares of Akebia Therapeutics (AKBA) traded down 0.20% during mid-day trading on Wednesday, reaching $14.99. The company’s stock had a trading volume of 263,008 shares. The company has a 50-day moving average of $13.95 and a 200-day moving average of $12.06. Akebia Therapeutics has a 12 month low of $7.16 and a 12 month high of $16.54. The firm’s market cap is $274.32 million.
Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to analyst estimates of $26.50 million. On average, analysts predict that Akebia Therapeutics will post ($2.82) earnings per share for the current year.
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In other Akebia Therapeutics news, SVP Michel Dahan sold 5,000 shares of Akebia Therapeutics stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.00, for a total value of $75,000.00. Following the completion of the sale, the senior vice president now directly owns 102,224 shares in the company, valued at $1,533,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Muneer A. Satter bought 1,034,482 shares of the stock in a transaction on Wednesday, July 5th. The stock was acquired at an average price of $14.50 per share, with a total value of $14,999,989.00. The disclosure for this purchase can be found here. Insiders have sold 7,544 shares of company stock valued at $111,287 over the last 90 days. 7.95% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of AKBA. Arrowstreet Capital Limited Partnership increased its stake in shares of Akebia Therapeutics by 165.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 38,900 shares of the biopharmaceutical company’s stock worth $559,000 after buying an additional 24,222 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Akebia Therapeutics during the second quarter worth $159,000. RA Capital Management LLC acquired a new stake in shares of Akebia Therapeutics during the second quarter worth $12,018,000. State Street Corp increased its stake in shares of Akebia Therapeutics by 72.9% in the second quarter. State Street Corp now owns 946,888 shares of the biopharmaceutical company’s stock worth $13,604,000 after buying an additional 399,160 shares during the last quarter. Finally, DAFNA Capital Management LLC increased its stake in shares of Akebia Therapeutics by 92.7% in the second quarter. DAFNA Capital Management LLC now owns 135,738 shares of the biopharmaceutical company’s stock worth $1,951,000 after buying an additional 65,283 shares during the last quarter. Institutional investors and hedge funds own 46.34% of the company’s stock.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
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