Akebia Therapeutics (NASDAQ:AKBA) Trading Up 9.5%

Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) were up 9.5% on Wednesday . The stock traded as high as $7.33 and last traded at $7.93, approximately 57,098 shares changed hands during trading. A decline of 97% from the average daily volume of 1,811,395 shares. The stock had previously closed at $7.24.

Several research analysts have recently weighed in on AKBA shares. Mizuho reiterated a “buy” rating and set a $15.00 price target on shares of Akebia Therapeutics in a research note on Thursday, March 19th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, March 10th. Zacks Investment Research upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $14.75.

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.49. The company has a market cap of $993.43 million, a P/E ratio of -3.19 and a beta of 1.39. The firm has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $6.06.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.32). The firm had revenue of $69.56 million for the quarter, compared to the consensus estimate of $95.40 million. Akebia Therapeutics had a negative return on equity of 39.65% and a negative net margin of 83.48%. On average, sell-side analysts predict that Akebia Therapeutics Inc will post -1.69 EPS for the current fiscal year.

In other Akebia Therapeutics news, COO Michel Dahan sold 6,972 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $8.70, for a total value of $60,656.40. Following the completion of the transaction, the chief operating officer now owns 211,932 shares in the company, valued at approximately $1,843,808.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nicole R. Hadas sold 7,050 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $8.70, for a total value of $61,335.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,998 shares of company stock valued at $182,683 in the last quarter. 2.66% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its stake in Akebia Therapeutics by 33.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,358,100 shares of the biopharmaceutical company’s stock worth $14,903,000 after purchasing an additional 585,800 shares during the period. Nuveen Asset Management LLC boosted its stake in Akebia Therapeutics by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,727,283 shares of the biopharmaceutical company’s stock worth $10,916,000 after purchasing an additional 13,777 shares during the period. Geode Capital Management LLC boosted its stake in Akebia Therapeutics by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 1,657,828 shares of the biopharmaceutical company’s stock worth $10,477,000 after purchasing an additional 79,006 shares during the period. Norges Bank bought a new position in Akebia Therapeutics in the 4th quarter worth about $5,815,000. Finally, Goldman Sachs Group Inc. boosted its stake in Akebia Therapeutics by 142.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 748,386 shares of the biopharmaceutical company’s stock worth $4,730,000 after purchasing an additional 439,972 shares during the period. Institutional investors and hedge funds own 64.44% of the company’s stock.

Akebia Therapeutics Company Profile (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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