Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $6.00 Consensus Price Target from Analysts

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts recently weighed in on AKBA shares. BTIG Research reiterated a “buy” rating and issued a $5.00 price target on shares of Akebia Therapeutics in a report on Tuesday, December 2nd. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, January 21st.

Akebia Therapeutics Trading Down 2.8%

NASDAQ AKBA opened at $1.41 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.80 and a debt-to-equity ratio of 1.15. The stock has a market cap of $374.17 million, a PE ratio of -20.14 and a beta of 0.38. The company’s 50-day moving average price is $1.53 and its 200-day moving average price is $2.42. Akebia Therapeutics has a 12 month low of $1.30 and a 12 month high of $4.08.

Institutional Trading of Akebia Therapeutics

Hedge funds have recently made changes to their positions in the company. Abel Hall LLC purchased a new stake in Akebia Therapeutics in the second quarter valued at approximately $39,000. State of Alaska Department of Revenue acquired a new position in Akebia Therapeutics during the 3rd quarter worth $42,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Akebia Therapeutics during the second quarter worth about $59,000. Brevan Howard Capital Management LP acquired a new position in Akebia Therapeutics during the 2nd quarter worth approximately $62,000. Finally, Unified Investment Management acquired a new position in shares of Akebia Therapeutics during the third quarter worth $49,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.