Piper Jaffray Companies began coverage on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $26.00 target price on the biopharmaceutical company’s stock.

AKBA has been the topic of several other research reports. ValuEngine downgraded Akebia Therapeutics from a hold rating to a sell rating in a research note on Friday, December 1st. Royal Bank of Canada reissued a hold rating and issued a $17.00 price objective on shares of Akebia Therapeutics in a research note on Thursday, November 2nd. Mizuho began coverage on Akebia Therapeutics in a research note on Wednesday, October 4th. They issued a buy rating and a $24.00 price objective on the stock. BTIG Research began coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They issued a buy rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research raised Akebia Therapeutics from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $22.20.

Shares of Akebia Therapeutics (AKBA) opened at $15.40 on Monday. Akebia Therapeutics has a 12 month low of $8.58 and a 12 month high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.07. The firm had revenue of $41.28 million for the quarter, compared to the consensus estimate of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. equities analysts forecast that Akebia Therapeutics will post -2.25 EPS for the current year.

In other news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.30, for a total value of $96,500.00. Following the sale, the senior vice president now owns 97,224 shares of the company’s stock, valued at approximately $1,876,423.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 7,586 shares of company stock worth $147,289 in the last three months. Company insiders own 7.95% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Akebia Therapeutics by 1.3% during the second quarter. Rhumbline Advisers now owns 41,510 shares of the biopharmaceutical company’s stock valued at $596,000 after purchasing an additional 518 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Akebia Therapeutics by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock worth $453,000 after acquiring an additional 608 shares during the last quarter. Legal & General Group Plc grew its position in Akebia Therapeutics by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 714 shares during the last quarter. Wells Fargo & Company MN grew its position in Akebia Therapeutics by 1.0% during the 2nd quarter. Wells Fargo & Company MN now owns 88,116 shares of the biopharmaceutical company’s stock worth $1,266,000 after acquiring an additional 880 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in Akebia Therapeutics by 4.5% during the 2nd quarter. Nationwide Fund Advisors now owns 21,403 shares of the biopharmaceutical company’s stock worth $308,000 after buying an additional 915 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

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About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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