Analysts Set Akebia Therapeutics, Inc. (NASDAQ:AKBA) Target Price at $6.75

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have earned an average rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.75.

AKBA has been the topic of several research reports. Zacks Research lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, HC Wainwright began coverage on shares of Akebia Therapeutics in a research note on Wednesday, June 4th. They issued a “buy” rating and a $8.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AKBA. AIGH Capital Management LLC purchased a new stake in shares of Akebia Therapeutics in the first quarter worth about $5,616,000. MPM Bioimpact LLC acquired a new position in Akebia Therapeutics during the 2nd quarter worth approximately $10,516,000. Woodline Partners LP purchased a new position in Akebia Therapeutics in the 1st quarter worth approximately $4,772,000. Nantahala Capital Management LLC purchased a new position in Akebia Therapeutics in the 1st quarter worth approximately $3,840,000. Finally, Vanguard Group Inc. grew its position in Akebia Therapeutics by 16.6% in the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company’s stock valued at $24,357,000 after acquiring an additional 1,801,603 shares in the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $2.71 on Friday. The company has a market cap of $718.53 million, a price-to-earnings ratio of -15.94 and a beta of 1.02. Akebia Therapeutics has a 12 month low of $1.24 and a 12 month high of $4.08. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. The stock’s 50-day moving average is $3.20 and its 200-day moving average is $2.96.

Akebia Therapeutics Company Profile

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 patients.