Akebia Therapeutics, Inc. (NASDAQ:AKBA) Given Consensus Recommendation of “Hold” by Analysts

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $4.6667.

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Akebia Therapeutics in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Akebia Therapeutics in a research report on Wednesday, May 6th. Zacks Research cut shares of Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, BTIG Research reiterated a “buy” rating and set a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, April 7th.

Akebia Therapeutics Price Performance

Akebia Therapeutics stock opened at $1.24 on Monday. The firm has a market cap of $332.64 million, a price-to-earnings ratio of -15.50 and a beta of 0.23. The stock has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.31. Akebia Therapeutics has a 12 month low of $0.82 and a 12 month high of $4.08. The company has a current ratio of 1.40, a quick ratio of 1.33 and a debt-to-equity ratio of 1.33.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Akebia Therapeutics had a negative net margin of 8.83% and a negative return on equity of 62.72%. The business had revenue of $53.54 million for the quarter, compared to analysts’ expectations of $51.67 million. Equities analysts predict that Akebia Therapeutics will post -0.1 EPS for the current fiscal year.

Insider Activity at Akebia Therapeutics

In related news, CFO Erik Ostrowski sold 56,019 shares of Akebia Therapeutics stock in a transaction on Monday, June 29th. The stock was sold at an average price of $1.11, for a total value of $62,181.09. Following the completion of the sale, the chief financial officer owned 616,616 shares of the company’s stock, valued at $684,443.76. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in AKBA. Cibc World Markets Corp bought a new position in shares of Akebia Therapeutics in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Akebia Therapeutics by 697.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,622 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 18,037 shares during the last quarter. Caption Management LLC bought a new position in Akebia Therapeutics in the fourth quarter worth approximately $40,000. Baird Financial Group Inc. raised its position in Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 4,000 shares during the period. Finally, Polymer Capital Management US LLC boosted its stake in shares of Akebia Therapeutics by 49.5% during the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 6,034 shares during the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.