Akebia Therapeutics, Inc. (AKBA) Research Coverage Started at Royal Bank Of Canada
Royal Bank Of Canada initiated coverage on shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in a report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $17.00 target price on the biopharmaceutical company’s stock.
AKBA has been the topic of a number of other reports. Zacks Investment Research raised shares of Akebia Therapeutics from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Monday, August 14th. HC Wainwright reaffirmed a buy rating and set a $25.00 price objective on shares of Akebia Therapeutics in a report on Tuesday, June 6th. Needham & Company LLC reaffirmed a buy rating and set a $21.00 price objective (up from $18.00) on shares of Akebia Therapeutics in a report on Wednesday, May 17th. BidaskClub downgraded shares of Akebia Therapeutics from a hold rating to a sell rating in a report on Wednesday, July 19th. Finally, Aegis reaffirmed a buy rating on shares of Akebia Therapeutics in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $21.25.
Shares of Akebia Therapeutics (AKBA) opened at 17.30 on Thursday. The company’s market capitalization is $316.59 million. The firm’s 50-day moving average is $15.33 and its 200 day moving average is $12.94. Akebia Therapeutics has a 52-week low of $7.16 and a 52-week high of $17.79.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to analysts’ expectations of $26.50 million. On average, equities research analysts anticipate that Akebia Therapeutics will post ($2.68) earnings per share for the current year.
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In other Akebia Therapeutics news, Director Muneer A. Satter bought 1,034,482 shares of the stock in a transaction dated Wednesday, July 5th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $14,999,989.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michel Dahan sold 5,000 shares of Akebia Therapeutics stock in a transaction 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 sale, the senior vice president now owns 102,224 shares in the company, valued at $1,533,360. The disclosure for this sale can be found here. Insiders have sold a total of 7,544 shares of company stock worth $111,287 over the last quarter. Company insiders own 7.95% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Akebia Therapeutics by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,436,163 shares of the biopharmaceutical company’s stock worth $20,638,000 after purchasing an additional 134,283 shares during the period. First Manhattan Co. raised its stake in shares of Akebia Therapeutics by 14.4% during the 2nd quarter. First Manhattan Co. now owns 1,188,500 shares of the biopharmaceutical company’s stock worth $17,078,000 after purchasing an additional 150,000 shares during the period. FMR LLC raised its stake in shares of Akebia Therapeutics by 11.3% during the 2nd quarter. FMR LLC now owns 1,036,955 shares of the biopharmaceutical company’s stock worth $14,901,000 after purchasing an additional 105,100 shares during the period. Renaissance Technologies LLC raised its stake in shares of Akebia Therapeutics by 165.4% during the 2nd 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 period. Finally, State Street Corp raised its stake in shares of Akebia Therapeutics by 72.9% during the 2nd quarter. State Street Corp now owns 946,888 shares of the biopharmaceutical company’s stock worth $13,604,000 after purchasing an additional 399,160 shares during the period. Institutional investors own 57.62% 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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