Brokerages Set Akebia Therapeutics, Inc. (NASDAQ:AKBA) Price Target at $6.00

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.00.

Several research analysts have issued reports on AKBA shares. HC Wainwright reduced their price objective on Akebia Therapeutics from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Zacks Research cut Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. BTIG Research cut their price target on Akebia Therapeutics from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wall Street Zen upgraded Akebia Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Akebia Therapeutics by 6.4% in the third quarter. Vanguard Group Inc. now owns 15,547,508 shares of the biopharmaceutical company’s stock valued at $42,445,000 after acquiring an additional 936,042 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Akebia Therapeutics by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 6,074,458 shares of the biopharmaceutical company’s stock valued at $22,115,000 after acquiring an additional 1,043,718 shares during the last quarter. UBS Group AG lifted its stake in shares of Akebia Therapeutics by 470.2% in the 3rd quarter. UBS Group AG now owns 3,646,233 shares of the biopharmaceutical company’s stock valued at $9,954,000 after purchasing an additional 3,006,771 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Akebia Therapeutics by 87.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,206,184 shares of the biopharmaceutical company’s stock valued at $8,753,000 after purchasing an additional 1,491,640 shares during the period. Finally, AIGH Capital Management LLC acquired a new stake in shares of Akebia Therapeutics during the first quarter worth $5,616,000. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Price Performance

Shares of AKBA stock opened at $1.65 on Friday. Akebia Therapeutics has a 1 year low of $1.52 and a 1 year high of $4.08. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. The firm’s 50 day moving average is $2.60 and its 200-day moving average is $3.08. The firm has a market capitalization of $437.85 million, a price-to-earnings ratio of -9.71 and a beta of 0.62.

About Akebia Therapeutics

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.