Akebia Therapeutics (NASDAQ:AKBA) Stock Price Up 10.9% – Should You Buy?

Akebia Therapeutics, Inc. (NASDAQ:AKBA)’s stock price rose 10.9% during mid-day trading 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.

Analyst Ratings Changes

A number of research firms recently commented on AKBA. StockNews.com downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Tuesday, January 14th.

Akebia Therapeutics Trading Up 14.3 %

The company has a market cap of $516.00 million, a price-to-earnings ratio of -10.20 and a beta of 0.72. The business has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $1.59.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS 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 quarter in the prior year, the business earned ($0.08) EPS. On average, analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AKBA. Mercer Global Advisors Inc. ADV increased its stake in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,037 shares during the period. Empirical Asset Management LLC bought a new stake in shares of Akebia Therapeutics during the third quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics in the second quarter valued at $44,000. XTX Topco Ltd acquired a new stake in Akebia Therapeutics during the third quarter worth $58,000. Finally, Intech Investment Management LLC bought a new stake in Akebia Therapeutics in the 3rd quarter valued at $59,000. 33.92% of the stock is currently 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.