Wall Street Zen Upgrades Akebia Therapeutics (NASDAQ:AKBA) to “Strong-Buy”

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

AKBA has been the topic of several other reports. BTIG Research decreased their price objective on shares of Akebia Therapeutics from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday. HC Wainwright decreased their price objective on shares of Akebia Therapeutics from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Research lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $2.21 on Friday. The firm’s 50 day moving average price is $2.89 and its 200-day moving average price is $3.10. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98. Akebia Therapeutics has a one year low of $1.52 and a one year high of $4.08. The firm has a market cap of $585.97 million, a P/E ratio of -13.00 and a beta of 0.68.

Hedge Funds Weigh In On Akebia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Unified Investment Management purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $49,000. State of Alaska Department of Revenue purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $42,000. SG Americas Securities LLC purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $318,000. KLP Kapitalforvaltning AS purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $150,000. Finally, Parkwoods Wealth Partners LLC purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $55,000. 33.92% of the stock is owned by institutional investors and hedge funds.

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.