Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.
A number of other research analysts have also recently commented on AKBA. HC Wainwright reissued a "buy" rating and issued a $7.50 target price 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.
Check Out Our Latest Report on AKBA
Akebia Therapeutics Trading Up 4.4 %
Shares of NASDAQ AKBA traded up $0.09 during midday trading on Monday, hitting $2.13. 8,640,947 shares of the company's stock were exchanged, compared to its average volume of 3,120,156. The business's fifty day moving average price is $2.07 and its two-hundred day moving average price is $1.81. The company has a market cap of $464.73 million, a price-to-earnings ratio of -9.26 and a beta of 0.94. Akebia Therapeutics has a 12-month low of $0.80 and a 12-month high of $2.89.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $46.50 million for the quarter, compared to analyst estimates of $37.36 million. Equities analysts expect that Akebia Therapeutics will post -0.3 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CAO Richard C. Malabre sold 30,202 shares of Akebia Therapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $63,424.20. Following the transaction, the chief accounting officer now directly owns 280,248 shares of the company's stock, valued at $588,520.80. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Steven Keith Burke sold 50,506 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $106,062.60. Following the sale, the senior vice president now directly owns 816,234 shares of the company's stock, valued at $1,714,091.40. The trade was a 5.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,579 shares of company stock valued at $589,216 over the last three months. Insiders own 4.10% of the company's stock.
Institutional Trading of Akebia Therapeutics
A number of institutional investors have recently modified their holdings of AKBA. Vanguard Group Inc. raised its position in Akebia Therapeutics by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company's stock valued at $20,680,000 after purchasing an additional 813,902 shares during the last quarter. State Street Corp increased its stake in shares of Akebia Therapeutics by 24.9% during the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company's stock valued at $4,528,000 after buying an additional 683,287 shares during the period. Wellington Management Group LLP purchased a new stake in Akebia Therapeutics in the third quarter worth $534,000. JPMorgan Chase & Co. lifted its stake in Akebia Therapeutics by 363.0% in the fourth quarter. JPMorgan Chase & Co. now owns 456,294 shares of the biopharmaceutical company's stock worth $867,000 after acquiring an additional 357,748 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Akebia Therapeutics by 117.9% in the fourth quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company's stock valued at $1,033,000 after acquiring an additional 294,343 shares in the last quarter. 33.92% of the stock is currently owned by hedge funds and other institutional investors.
Akebia Therapeutics Company Profile
(
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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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