StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA - Free Report) from a sell rating to a hold rating in a report published on Friday.
Separately, HC Wainwright reaffirmed a "buy" rating and issued a $7.50 target price on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.
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Akebia Therapeutics Stock Up 1.6 %
Shares of AKBA traded up $0.03 during trading hours on Friday, hitting $1.85. 1,743,370 shares of the company were exchanged, compared to its average volume of 3,030,574. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The company has a market cap of $403.63 million, a price-to-earnings ratio of -8.04 and a beta of 0.70. The firm's fifty day moving average is $1.74 and its 200 day moving average is $1.42.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same period in the previous year, the firm earned ($0.08) EPS. Analysts anticipate that Akebia Therapeutics will post -0.24 EPS for the current year.
Institutional Trading of Akebia Therapeutics
A number of hedge funds have recently added to or reduced their stakes in AKBA. Mercer Global Advisors Inc. ADV lifted its holdings in 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 buying an additional 9,037 shares during the period. SG Americas Securities LLC bought a new position in Akebia Therapeutics in the 2nd quarter valued at about $34,000. Empirical Asset Management LLC bought a new stake in Akebia Therapeutics during the third quarter worth $44,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the 2nd quarter worth $44,000. Finally, XTX Topco Ltd bought a new stake in Akebia Therapeutics in the 3rd quarter worth about $58,000. Institutional investors and hedge funds own 33.92% of the company's stock.
About Akebia Therapeutics
(
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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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