Akebia Therapeutics’ (AKBA) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reiterated their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a report released on Tuesday,Benzinga reports. They currently have a $5.00 price target on the biopharmaceutical company’s stock.

AKBA has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Zacks Research downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Akebia Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.47 on Tuesday. The company’s 50 day simple moving average is $2.33 and its two-hundred day simple moving average is $3.01. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.94 and a quick ratio of 1.80. Akebia Therapeutics has a 1 year low of $1.45 and a 1 year high of $4.08. The stock has a market capitalization of $390.09 million, a PE ratio of -21.00 and a beta of 0.31.

Institutional Investors Weigh In On Akebia Therapeutics

A number of hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new stake in Akebia Therapeutics in the third quarter worth $73,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of Akebia Therapeutics in the third quarter worth about $79,000. Voleon Capital Management LP bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at about $578,000. Sherbrooke Park Advisers LLC purchased a new stake in Akebia Therapeutics during the 3rd quarter valued at about $77,000. Finally, Polymer Capital Management US LLC boosted its holdings in Akebia Therapeutics by 49.5% during the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 6,034 shares during the period. 33.92% of the stock is currently owned by institutional investors.

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.