Stock analysts at StockNews.com started coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently issued reports on the stock. HC Wainwright lowered their target price on shares of Akebia Therapeutics from $2.00 to $1.25 in a report on Monday, May 16th. Piper Sandler downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $2.00 in a research report on Wednesday, March 30th. Mizuho downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $6.00 to $2.00 in a research report on Thursday, March 31st. Cantor Fitzgerald cut shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Friday, April 1st. Finally, Needham & Company LLC cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Akebia Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $1.75.
Shares of AKBA stock opened at $0.39 on Friday. The firm’s 50-day moving average is $0.40 and its two-hundred day moving average is $1.48. Akebia Therapeutics has a 12 month low of $0.30 and a 12 month high of $4.33. The company has a market capitalization of $72.17 million, a PE ratio of -0.25 and a beta of 1.57.
Several institutional investors have recently added to or reduced their stakes in AKBA. Point72 Hong Kong Ltd acquired a new stake in Akebia Therapeutics in the fourth quarter worth about $30,000. Two Sigma Securities LLC acquired a new stake in Akebia Therapeutics in the third quarter worth about $62,000. Teacher Retirement System of Texas lifted its holdings in Akebia Therapeutics by 37.2% in the fourth quarter. Teacher Retirement System of Texas now owns 32,286 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 8,759 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Akebia Therapeutics by 72.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 48,214 shares of the biopharmaceutical company’s stock worth $139,000 after purchasing an additional 20,259 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Akebia Therapeutics in the first quarter worth about $39,000. Institutional investors and hedge funds own 55.34% of the company’s stock.
Akebia Therapeutics Company Profile (Get Rating)
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.
- Get a free copy of the StockNews.com research report on Akebia Therapeutics (AKBA)
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