Akebia Therapeutics (NASDAQ:AKBA) Trading 10.9% Higher - Time to Buy?

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) shares were up 10.9% on Tuesday . The company traded as high as $2.30 and last traded at $2.30. Approximately 1,941,937 shares were traded during trading, a decline of 19% from the average daily volume of 2,395,945 shares. The stock had previously closed at $2.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AKBA shares. StockNews.com lowered Akebia Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. HC Wainwright reissued a "buy" rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday.

Akebia Therapeutics Stock Performance

The business's 50 day moving average price is $1.93 and its two-hundred day moving average price is $1.61. The company has a market capitalization of $521.45 million, a price-to-earnings ratio of -10.39 and a beta of 0.72.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to analysts' expectations of $45.66 million. During the same period last year, the business earned ($0.08) EPS. On average, sell-side analysts expect that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AKBA. Mercer Global Advisors Inc. ADV boosted its stake in shares of Akebia Therapeutics by 40.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 9,037 shares in the last quarter. Wealth Effects LLC increased its stake in Akebia Therapeutics by 18.5% in the 4th quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 5,000 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the 3rd quarter worth about $44,000. AlphaMark Advisors LLC acquired a new stake in Akebia Therapeutics during the 4th quarter worth about $73,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics in the second quarter worth about $44,000. 33.92% of the stock is owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.