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

Akebia Therapeutics (NASDAQ:AKBA) had its price target decreased by stock analysts at Piper Sandler from $6.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target would suggest a potential upside of 190.91% from the company’s current price.

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

Akebia Therapeutics Price Performance

NASDAQ AKBA traded down $0.01 on Friday, reaching $1.38. 1,500,956 shares of the company’s stock traded hands, compared to its average volume of 2,946,262. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.94 and a quick ratio of 1.80. The stock has a market cap of $364.88 million, a PE ratio of -19.64 and a beta of 0.38. The stock has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $2.37. Akebia Therapeutics has a 12 month low of $1.30 and a 12 month high of $4.08.

Insider Buying and Selling at Akebia Therapeutics

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

Institutional Trading of Akebia Therapeutics

Hedge funds have recently bought and sold shares of the stock. Abel Hall LLC purchased a new position in shares of Akebia Therapeutics during the 2nd quarter valued at $39,000. State of Alaska Department of Revenue bought a new position in shares of Akebia Therapeutics in the third quarter worth about $42,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Akebia Therapeutics during the second quarter worth about $59,000. Brevan Howard Capital Management LP bought a new stake in Akebia Therapeutics during the 2nd quarter valued at approximately $62,000. Finally, Unified Investment Management purchased a new position in Akebia Therapeutics in the 3rd quarter worth approximately $49,000. Institutional investors own 33.92% of the company’s stock.

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.