Bank of New York Mellon Corp lifted its position in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) by 12.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,985 shares of the biopharmaceutical company’s stock after purchasing an additional 24,167 shares during the period. Bank of New York Mellon Corp owned 0.48% of Akebia Therapeutics worth $4,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Akebia Therapeutics in the second quarter worth about $132,000. Legal & General Group Plc raised its position in Akebia Therapeutics by 8.0% in the second quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 714 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Akebia Therapeutics in the second quarter worth about $159,000. Voya Investment Management LLC raised its position in Akebia Therapeutics by 11.7% in the second quarter. Voya Investment Management LLC now owns 18,454 shares of the biopharmaceutical company’s stock worth $265,000 after acquiring an additional 1,933 shares during the period. Finally, CAPROCK Group Inc. bought a new stake in Akebia Therapeutics in the third quarter worth about $284,000. 62.73% of the stock is currently owned by institutional investors.

Several brokerages have commented on AKBA. Zacks Investment Research lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies began coverage on shares of Akebia Therapeutics in a research report on Monday, December 18th. They issued an “overweight” rating and a $26.00 price objective on the stock. Royal Bank of Canada started coverage on shares of Akebia Therapeutics in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. Finally, Mizuho reiterated a “buy” rating and issued a $24.00 target price on shares of Akebia Therapeutics in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Akebia Therapeutics has an average rating of “Buy” and a consensus price target of $22.20.

Akebia Therapeutics Inc (AKBA) opened at $14.97 on Wednesday. The firm has a market cap of $707.62, a PE ratio of -4.74 and a beta of 0.87. Akebia Therapeutics Inc has a 12 month low of $8.58 and a 12 month high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.07. The firm had revenue of $41.28 million during the quarter, compared to the consensus estimate of $34.00 million. Akebia Therapeutics had a negative net margin of 137.80% and a negative return on equity of 198.85%. analysts expect that Akebia Therapeutics Inc will post -2.25 earnings per share for the current fiscal year.

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Akebia Therapeutics 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).

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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