Akebia Therapeutics (NASDAQ:AKBA) Trading 3.1% Higher

Akebia Therapeutics Inc (NASDAQ:AKBA)’s stock price traded up 3.1% on Thursday . The company traded as high as $7.49 and last traded at $7.71, 1,030,003 shares were traded during trading. An increase of 9% from the average session volume of 942,664 shares. The stock had previously closed at $7.48.

A number of equities research analysts recently commented on AKBA shares. Needham & Company LLC lowered their price objective on shares of Akebia Therapeutics from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Mizuho reissued a “buy” rating and issued a $16.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, November 19th. Zacks Investment Research raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, BidaskClub raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Akebia Therapeutics currently has an average rating of “Buy” and a consensus target price of $12.88.

The stock has a market capitalization of $820.71 million, a price-to-earnings ratio of -3.19 and a beta of 1.77. The stock’s 50 day moving average is $6.40 and its 200 day moving average is $4.73. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.09). Akebia Therapeutics had a negative return on equity of 32.74% and a negative net margin of 75.39%. The firm had revenue of $91.98 million for the quarter, compared to analyst estimates of $93.94 million. On average, sell-side analysts anticipate that Akebia Therapeutics Inc will post -1.44 EPS for the current year.

In other Akebia Therapeutics news, SVP Steven Keith Burke purchased 27,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $3.58 per share, for a total transaction of $96,660.00. Following the completion of the acquisition, the senior vice president now owns 37,000 shares of the company’s stock, valued at approximately $132,460. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John P. Butler purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $3.44 per share, for a total transaction of $172,000.00. Following the acquisition, the chief executive officer now directly owns 63,700 shares of the company’s stock, valued at approximately $219,128. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 82,800 shares of company stock worth $288,554. Insiders own 2.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Akebia Therapeutics by 20.6% in the second quarter. BlackRock Inc. now owns 10,227,690 shares of the biopharmaceutical company’s stock valued at $49,501,000 after buying an additional 1,745,307 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Akebia Therapeutics by 9.2% during the third quarter. Point72 Asset Management L.P. now owns 1,772,300 shares of the biopharmaceutical company’s stock valued at $6,947,000 after purchasing an additional 148,900 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Akebia Therapeutics during the second quarter valued at approximately $7,885,000. Northern Trust Corp raised its stake in shares of Akebia Therapeutics by 2.8% during the second quarter. Northern Trust Corp now owns 1,152,582 shares of the biopharmaceutical company’s stock valued at $5,578,000 after purchasing an additional 31,036 shares during the period. Finally, Man Group plc raised its stake in shares of Akebia Therapeutics by 58.8% during the second quarter. Man Group plc now owns 934,650 shares of the biopharmaceutical company’s stock valued at $4,524,000 after purchasing an additional 346,242 shares during the period. Hedge funds and other institutional investors own 70.41% 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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