Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock Has Average Price Target of $3.90 According to Analysts

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3.90.

A number of equities research analysts have recently weighed in on AKBA shares. Weiss Ratings downgraded shares of Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Wall Street Zen upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Akebia Therapeutics in a report on Tuesday, September 15th. Leerink Partners cut Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price target on the stock. in a research report on Friday, August 7th. Finally, Westpark Capital assumed coverage on Akebia Therapeutics in a research note on Tuesday, September 8th. They issued a “buy” rating and a $4.50 price target for the company.

Akebia Therapeutics Trading Down 4.8%

AKBA stock opened at $0.71 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.35 and a current ratio of 1.43. The company’s 50-day simple moving average is $0.85 and its 200 day simple moving average is $1.15. Akebia Therapeutics has a 52 week low of $0.54 and a 52 week high of $2.23. The company has a market capitalization of $195.78 million, a PE ratio of -6.42 and a beta of 0.18.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $49.13 million during the quarter, compared to analysts’ expectations of $48.85 million. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. As a group, sell-side analysts anticipate that Akebia Therapeutics will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Akebia Therapeutics

Several hedge funds have recently bought and sold shares of AKBA. State of Wyoming raised its position in shares of Akebia Therapeutics by 1,090.7% in the 3rd quarter. State of Wyoming now owns 192,008 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 175,883 shares in the last quarter. PFG Private Wealth Management LLC acquired a new stake in shares of Akebia Therapeutics during the 3rd quarter worth approximately $34,000. Headlands Technologies LLC boosted its position in shares of Akebia Therapeutics by 60.3% during the 2nd quarter. Headlands Technologies LLC now owns 77,992 shares of the biopharmaceutical company’s stock worth $89,000 after acquiring an additional 29,334 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Akebia Therapeutics during the 2nd quarter worth approximately $46,000. Finally, Nantahala Capital Management LLC bought a new position in Akebia Therapeutics in the second quarter valued at approximately $2,280,000. 33.92% of the stock is owned by institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism.

Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.