Jefferies Financial Group assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBA - Free Report) in a report issued on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $6.00 price objective on the biopharmaceutical company's stock.
A number of other brokerages have also recently commented on AKBA. HC Wainwright reaffirmed a "buy" rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Friday, March 14th. Piper Sandler boosted their target price on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Finally, StockNews.com raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, March 17th.
Get Our Latest Research Report on Akebia Therapeutics
Akebia Therapeutics Stock Performance
AKBA traded down $0.11 during midday trading on Tuesday, hitting $1.77. The company had a trading volume of 6,501,332 shares, compared to its average volume of 2,757,132. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.89. The company has a market capitalization of $418.13 million, a PE ratio of -7.70 and a beta of 0.95. The firm's 50-day simple moving average is $2.05 and its 200-day simple moving average is $1.85.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business had revenue of $46.50 million for the quarter, compared to the consensus estimate of $37.36 million. As a group, sell-side analysts anticipate that Akebia Therapeutics will post -0.3 EPS for the current fiscal year.
Insider Buying and Selling at Akebia Therapeutics
In related news, SVP Steven Keith Burke sold 50,506 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $106,062.60. Following the completion of the transaction, the senior vice president now directly owns 816,234 shares in the company, valued at approximately $1,714,091.40. The trade was a 5.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard C. Malabre sold 30,202 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the sale, the chief accounting officer now owns 280,248 shares in the company, valued at $588,520.80. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,579 shares of company stock valued at $589,216. Company insiders own 4.10% of the company's stock.
Hedge Funds Weigh In On Akebia Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKBA. SRS Capital Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $26,000. PDS Planning Inc bought a new stake in Akebia Therapeutics in the 4th quarter valued at approximately $28,000. Mariner LLC acquired a new position in Akebia Therapeutics during the 4th quarter worth approximately $28,000. Cibc World Markets Corp bought a new position in shares of Akebia Therapeutics during the 4th quarter worth approximately $37,000. Finally, Aquatic Capital Management LLC bought a new position in shares of Akebia Therapeutics during the 4th quarter worth approximately $47,000. 33.92% of the stock is owned by institutional investors and hedge funds.
About Akebia Therapeutics
(
Get Free Report)
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.
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