Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $6.00 Consensus PT from Brokerages

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.00.

Several equities analysts recently issued reports on AKBA shares. Wall Street Zen cut Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Akebia Therapeutics in a report on Tuesday, December 2nd. BTIG Research reaffirmed a “buy” rating and set a $5.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Akebia Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Abel Hall LLC bought a new position in shares of Akebia Therapeutics during the 2nd quarter valued at $39,000. Baird Financial Group Inc. increased its position in Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 4,000 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Akebia Therapeutics in the third quarter valued at about $42,000. Unified Investment Management purchased a new position in Akebia Therapeutics in the third quarter worth about $49,000. Finally, Polymer Capital Management US LLC grew its stake in shares of Akebia Therapeutics by 49.5% during the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,034 shares during the period. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Stock Up 4.1%

Shares of Akebia Therapeutics stock opened at $1.53 on Monday. The company has a 50-day simple moving average of $1.69 and a two-hundred day simple moving average of $2.70. The stock has a market capitalization of $406.02 million, a PE ratio of -21.85 and a beta of 0.35. Akebia Therapeutics has a 52-week low of $1.45 and a 52-week high of $4.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.80 and a current ratio of 1.94.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.