Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock Has Average Price Target of $3.90 According to Brokerages

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.90.

A number of research firms have weighed in on AKBA. Wall Street Zen upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings cut shares of Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Westpark Capital initiated coverage on Akebia Therapeutics in a report on Tuesday, September 8th. They issued a “buy” rating and a $4.50 price target for the company. Leerink Partners cut shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price objective for the company. in a research report on Friday, August 7th. Finally, BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, September 15th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC raised its holdings in shares of Akebia Therapeutics by 60.3% during the 2nd quarter. Headlands Technologies LLC now owns 77,992 shares of the biopharmaceutical company’s stock worth $89,000 after acquiring an additional 29,334 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Akebia Therapeutics during the 2nd quarter worth about $46,000. Nantahala Capital Management LLC purchased a new stake in Akebia Therapeutics in the 2nd quarter valued at about $2,280,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at approximately $336,000. Finally, Bank of America Corp DE purchased a new stake in Akebia Therapeutics in the second quarter valued at approximately $523,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $0.80 on Wednesday. The stock has a 50-day moving average of $0.94 and a two-hundred day moving average of $1.13. The stock has a market cap of $221.99 million, a P/E ratio of -7.28 and a beta of 0.18. Akebia Therapeutics has a one year low of $0.80 and a one year high of $3.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.35 and a current ratio of 1.43.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. The company had revenue of $49.13 million during the quarter, compared to analyst estimates of $48.85 million. As a group, research analysts predict that Akebia Therapeutics will post -0.14 EPS for the current year.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for patients with kidney disease and related complications. The company’s portfolio centers on therapies for anemia associated with chronic kidney disease (CKD), a condition that can result from reduced kidney function and insufficient production of erythropoietin.

Akebia’s primary product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor. In the United States, Vafseo is approved to treat anemia due to CKD in adults who have been receiving dialysis for at least three months.