Akebia Therapeutics (NASDAQ:AKBA) Trading Up 5.2%
Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) were up 5.2% during trading on Monday . The stock traded as high as $4.32 and last traded at $4.28, approximately 575,500 shares were traded during mid-day trading. A decline of 47% from the average daily volume of 1,079,053 shares. The stock had previously closed at $4.07.
Several research analysts have recently commented on the stock. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Mizuho set a $16.00 price objective on shares of Akebia Therapeutics and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Akebia Therapeutics in a research note on Monday. BidaskClub cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Finally, Zacks Investment Research raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.45.
The stock has a 50 day moving average of $4.21 and a two-hundred day moving average of $5.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.70. The firm has a market capitalization of $508.74 million, a P/E ratio of -2.16 and a beta of 1.43.
Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC acquired a new stake in shares of Akebia Therapeutics in the second quarter worth $31,000. Wedbush Securities Inc. acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $52,000. AQR Capital Management LLC bought a new position in Akebia Therapeutics in the 2nd quarter worth $54,000. Bank of Montreal Can raised its holdings in Akebia Therapeutics by 1,478.7% in the 2nd quarter. Bank of Montreal Can now owns 11,856 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 11,105 shares during the period. Finally, M&T Bank Corp raised its holdings in Akebia Therapeutics by 24.9% in the 2nd quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 2,894 shares during the period. 71.88% of the stock is currently owned by institutional investors.
About Akebia Therapeutics (NASDAQ:AKBA)
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.
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