Akebia Therapeutics (NASDAQ:AKBA) Price Target Lowered to $4.00 at Piper Sandler

Akebia Therapeutics (NASDAQ:AKBA) had its price objective decreased by Piper Sandler from $6.00 to $4.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target indicates a potential upside of 190.91% from the stock’s previous close.

Several other research firms also recently weighed in on AKBA. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Friday. BTIG Research reissued a “buy” rating and issued a $5.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.60.

Akebia Therapeutics Trading Down 0.4%

AKBA stock traded down $0.01 during mid-day trading on Friday, reaching $1.38. 1,500,956 shares of the stock traded hands, compared to its average volume of 2,946,262. The business has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $2.37. The stock has a market capitalization of $364.88 million, a PE ratio of -19.64 and a beta of 0.38. 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 has a one year low of $1.30 and a one year high of $4.08.

Insider Transactions at Akebia Therapeutics

In related news, CAO Richard C. Malabre sold 49,524 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.39, for a total value of $68,838.36. Following the completion of the sale, the chief accounting officer owned 299,390 shares of the company’s stock, valued at approximately $416,152.10. This represents a 14.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its holdings in shares of Akebia Therapeutics by 23.0% in the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 4,000 shares during the period. AQR Capital Management LLC increased its stake in Akebia Therapeutics by 13.1% during the first quarter. AQR Capital Management LLC now owns 176,961 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 20,499 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Akebia Therapeutics by 9.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,897 shares of the biopharmaceutical company’s stock worth $265,000 after purchasing an additional 11,517 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Akebia Therapeutics by 171.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock valued at $5,231,000 after purchasing an additional 1,722,245 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $59,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.