Akebia Therapeutics (NASDAQ:AKBA) Upgraded to Buy by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, HC Wainwright reiterated a “neutral” rating and set a $1.25 price target on shares of Akebia Therapeutics in a research note on Wednesday, February 22nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.75.

Akebia Therapeutics Trading Up 8.9 %

Shares of NASDAQ:AKBA opened at $1.03 on Thursday. Akebia Therapeutics has a 12-month low of $0.24 and a 12-month high of $2.93. The business’s fifty day simple moving average is $0.78 and its 200-day simple moving average is $0.49. The company has a market capitalization of $189.78 million, a PE ratio of -1.17 and a beta of 0.84.

Insider Activity

In other Akebia Therapeutics news, CEO John P. Butler sold 91,868 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $0.88, for a total value of $80,843.84. Following the sale, the chief executive officer now directly owns 1,568,872 shares in the company, valued at $1,380,607.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 132,524 shares of company stock worth $116,621. Corporate insiders own 3.68% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirabella Financial Services LLP acquired a new stake in shares of Akebia Therapeutics during the 1st quarter valued at approximately $40,000. MetLife Investment Management LLC boosted its position in Akebia Therapeutics by 176.6% during the 1st quarter. MetLife Investment Management LLC now owns 85,186 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 54,389 shares during the period. BNP Paribas Arbitrage SA boosted its position in Akebia Therapeutics by 123.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 50,066 shares during the period. XTX Topco Ltd lifted its holdings in Akebia Therapeutics by 282.7% in the 1st quarter. XTX Topco Ltd now owns 102,392 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 75,635 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Akebia Therapeutics in the 1st quarter worth $94,000. Hedge funds and other institutional investors own 28.13% of the company’s stock.

Akebia Therapeutics Company Profile

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Akebia Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney diseases. The firm is also involved in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat.