Akebia Therapeutics (NASDAQ:AKBA) Price Target Cut to $4.00 by Analysts at BTIG Research

Akebia Therapeutics (NASDAQ:AKBA) had its target price cut by BTIG Research from $5.00 to $4.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Akebia Therapeutics in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, January 21st. Finally, Piper Sandler dropped their target price on shares of Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, four 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.40.

Akebia Therapeutics Trading Down 2.4%

NASDAQ:AKBA opened at $1.21 on Wednesday. Akebia Therapeutics has a 52 week low of $1.14 and a 52 week high of $4.08. The firm has a 50 day moving average of $1.44 and a 200 day moving average of $2.13. The company has a quick ratio of 1.80, a current ratio of 1.94 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $321.10 million, a price-to-earnings ratio of -17.28 and a beta of 0.38.

Insider Buying and Selling

In related news, CAO Richard C. Malabre sold 49,524 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.39, for a total value of $68,838.36. Following the transaction, the chief accounting officer owned 299,390 shares in the company, valued at approximately $416,152.10. This represents a 14.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Akebia Therapeutics

Several large investors have recently made changes to their positions in the business. Cibc World Markets Corp purchased a new position in shares of Akebia Therapeutics during the fourth quarter worth $27,000. Caption Management LLC purchased a new stake in Akebia Therapeutics in the fourth quarter valued at $40,000. Baird Financial Group Inc. grew its position in Akebia Therapeutics by 23.0% during the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,000 shares during the period. State of Alaska Department of Revenue acquired a new stake in Akebia Therapeutics during the 3rd quarter worth about $42,000. Finally, Unified Investment Management purchased a new position in shares of Akebia Therapeutics during the 3rd quarter valued at about $49,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Company Profile

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.