Akebia Therapeutics, Inc. (AKBA) Hits New 1-Year High at $17.17
Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) hit a new 52-week high during trading on Monday . The company traded as high as $17.17 and last traded at $17.07, with a volume of 230,480 shares changing hands. The stock had previously closed at $16.78.
A number of analysts have recently commented on AKBA shares. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Aegis reaffirmed a “buy” rating and issued a $25.00 price target on shares of Akebia Therapeutics in a research report on Thursday, May 18th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, HC Wainwright lowered their price target on Akebia Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.29.
The firm has a 50-day moving average price of $14.84 and a 200 day moving average price of $12.72. The firm’s market capitalization is $312.91 million.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.36. The business had revenue of $28.52 million during the quarter, compared to analyst estimates of $26.50 million. On average, equities research analysts forecast that Akebia Therapeutics, Inc. will post ($2.82) earnings per share for the current year.
In other news, Director Muneer A. Satter acquired 1,034,482 shares of Akebia Therapeutics stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average cost of $14.50 per share, for a total transaction of $14,999,989.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michel Dahan sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 102,224 shares of the company’s stock, valued at $1,533,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,544 shares of company stock valued at $111,287. Company insiders own 8.67% of the company’s stock.
Several large investors have recently made changes to their positions in AKBA. RA Capital Management LLC purchased a new position in shares of Akebia Therapeutics in the second quarter worth about $12,018,000. Farallon Capital Management LLC purchased a new position in shares of Akebia Therapeutics in the second quarter worth about $10,490,000. Marshall Wace North America L.P. purchased a new position in shares of Akebia Therapeutics in the first quarter worth about $6,232,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of Akebia Therapeutics in the first quarter worth about $6,232,000. Finally, Renaissance Technologies LLC raised its stake in shares of Akebia Therapeutics by 165.4% in the second quarter. Renaissance Technologies LLC now owns 1,025,300 shares of the biopharmaceutical company’s stock worth $14,734,000 after purchasing an additional 639,033 shares during the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.
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About Akebia Therapeutics
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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