Akebia Therapeutics (NASDAQ:AKBA) Given New $6.00 Price Target at HC Wainwright

Akebia Therapeutics (NASDAQ:AKBAFree Report) had its price target upped by HC Wainwright from $5.00 to $6.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on AKBA. StockNews.com lowered Akebia Therapeutics from a buy rating to a hold rating in a research report on Tuesday. BTIG Research reaffirmed a buy rating and set a $4.00 price objective on shares of Akebia Therapeutics in a research report on Wednesday, November 29th.

Check Out Our Latest Analysis on Akebia Therapeutics

Akebia Therapeutics Stock Down 18.3 %

NASDAQ:AKBA opened at $1.83 on Thursday. The stock’s fifty day moving average is $1.63 and its two-hundred day moving average is $1.29. Akebia Therapeutics has a 52 week low of $0.49 and a 52 week high of $2.48. The stock has a market capitalization of $383.15 million, a price-to-earnings ratio of -6.54 and a beta of 0.78.

Akebia Therapeutics (NASDAQ:AKBAGet Free Report) last posted its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $55.64 million. During the same period in the prior year, the company posted ($0.04) EPS. On average, sell-side analysts expect that Akebia Therapeutics will post -0.27 EPS for the current fiscal year.

Insider Activity at Akebia Therapeutics

In related news, SVP Steven Keith Burke sold 24,311 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $40,842.48. Following the transaction, the senior vice president now owns 711,376 shares of the company’s stock, valued at $1,195,111.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Akebia Therapeutics news, SVP Steven Keith Burke sold 24,311 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $40,842.48. Following the transaction, the senior vice president now owns 711,376 shares of the company’s stock, valued at $1,195,111.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John P. Butler sold 37,733 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $1.52, for a total value of $57,354.16. Following the transaction, the chief executive officer now directly owns 2,091,150 shares in the company, valued at approximately $3,178,548. The disclosure for this sale can be found here. Insiders have sold 187,893 shares of company stock valued at $300,598 over the last quarter. 3.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Akebia Therapeutics by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,607,472 shares of the biopharmaceutical company’s stock valued at $9,433,000 after purchasing an additional 86,155 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Akebia Therapeutics in the fourth quarter valued at about $88,000. Virtu Financial LLC acquired a new stake in Akebia Therapeutics in the fourth quarter valued at about $74,000. Orchard Capital Management LLC lifted its position in Akebia Therapeutics by 29.9% in the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 20,000 shares during the period. Finally, Northern Trust Corp lifted its position in Akebia Therapeutics by 2.7% in the fourth quarter. Northern Trust Corp now owns 310,368 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 8,247 shares during the period. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

(Get Free Report)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

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