Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Rating) have received a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $1.75.

AKBA has been the subject of several research reports. StockNews.com raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 9th. HC Wainwright reissued a “neutral” rating and set a $1.25 price objective on shares of Akebia Therapeutics in a research report on Friday, March 10th.

Insider Buying and Selling

In related news, CEO John P. Butler sold 91,868 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $0.88, for a total transaction of $80,843.84. Following the transaction, the chief executive officer now owns 1,568,872 shares in the company, valued at approximately $1,380,607.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 132,524 shares of company stock valued at $116,621. 3.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Several large investors have recently made changes to their positions in AKBA. Principal Financial Group Inc. grew its position in Akebia Therapeutics by 124.1% in the second quarter. Principal Financial Group Inc. now owns 414,392 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 229,453 shares during the last quarter. Marshall Wace LLP purchased a new stake in Akebia Therapeutics in the 3rd quarter valued at $101,000. Virtu Financial LLC bought a new position in Akebia Therapeutics in the 1st quarter valued at $94,000. XTX Topco Ltd grew its stake in shares of Akebia Therapeutics by 282.7% during the 1st quarter. XTX Topco Ltd now owns 102,392 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 75,635 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of 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 acquiring an additional 54,389 shares during the period. Institutional investors and hedge funds own 28.13% of the company’s stock.

Akebia Therapeutics Trading Down 1.7 %

AKBA opened at $0.67 on Thursday. The firm has a market cap of $123.72 million, a P/E ratio of -1.29 and a beta of 0.84. Akebia Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.60. The stock has a 50-day moving average of $0.80 and a 200 day moving average of $0.50.

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.