Akebia Therapeutics (NASDAQ:AKBA) Price Target Increased to $5.00 by Analysts at HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA) had its price objective hoisted by HC Wainwright from $3.75 to $5.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Separately, StockNews.com started coverage on shares of Akebia Therapeutics in a research note on Thursday, October 5th. They set a hold rating on the stock.

Akebia Therapeutics Trading Up 2.0 %

NASDAQ:AKBA opened at $1.02 on Friday. The firm has a market capitalization of $192.16 million, a price-to-earnings ratio of -3.19 and a beta of 0.88. The firm’s fifty day simple moving average is $1.02 and its 200 day simple moving average is $1.15. Akebia Therapeutics has a twelve month low of $0.24 and a twelve month high of $1.84.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Akebia Therapeutics had a negative net margin of 30.68% and a negative return on equity of 249.60%. The firm had revenue of $42.05 million for the quarter, compared to the consensus estimate of $48.19 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. On average, analysts predict that Akebia Therapeutics will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Akebia Therapeutics

A number of institutional investors have recently modified their holdings of the business. Eudaimonia Partners LLC boosted its stake in Akebia Therapeutics by 123.5% during the 2nd quarter. Eudaimonia Partners LLC now owns 27,144 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 15,000 shares during the period. Icon Wealth Partners LLC acquired a new position in Akebia Therapeutics during the 1st quarter valued at about $28,000. BNP Paribas Arbitrage SA boosted its stake in Akebia Therapeutics by 123.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 50,066 shares during the period. Mirabella Financial Services LLP acquired a new position in Akebia Therapeutics during the 1st quarter valued at about $40,000. Finally, HighTower Advisors LLC boosted its stake in Akebia Therapeutics by 18.4% during the 1st quarter. HighTower Advisors LLC now owns 70,350 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 10,925 shares during the period. Institutional investors own 27.04% of the company’s stock.

About Akebia Therapeutics

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 adult patients.