Citigroup started coverage on shares of Akebia Therapeutics (NASDAQ:AKBA) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $9.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts also recently commented on AKBA. Zacks Investment Research downgraded shares of Akebia Therapeutics from a buy rating to a hold rating in a report on Monday, February 11th. ValuEngine lowered shares of Akebia Therapeutics from a buy rating to a hold rating in a research report on Tuesday, December 18th. Finally, BidaskClub lowered shares of Akebia Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, December 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Akebia Therapeutics presently has a consensus rating of Hold and an average price target of $14.28.

Shares of NASDAQ:AKBA opened at $8.62 on Wednesday. Akebia Therapeutics has a 12 month low of $5.20 and a 12 month high of $12.31. The stock has a market capitalization of $462.18 million, a P/E ratio of -4.87 and a beta of 1.46.

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Akebia Therapeutics by 58.6% during the fourth quarter. Geode Capital Management LLC now owns 1,011,544 shares of the biopharmaceutical company’s stock worth $5,593,000 after acquiring an additional 373,594 shares during the period. Norges Bank purchased a new position in shares of Akebia Therapeutics during the fourth quarter worth approximately $3,497,000. Dimensional Fund Advisors LP increased its position in shares of Akebia Therapeutics by 107.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 942,599 shares of the biopharmaceutical company’s stock worth $5,212,000 after acquiring an additional 488,972 shares during the period. Amalgamated Bank purchased a new position in shares of Akebia Therapeutics during the fourth quarter worth approximately $72,000. Finally, Legal & General Group Plc increased its position in shares of Akebia Therapeutics by 123.5% during the fourth quarter. Legal & General Group Plc now owns 16,794 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 9,279 shares during the period.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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