Dell Faulkingham Sells 6,426 Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) Stock

Akebia Therapeutics Inc (NASDAQ:AKBA) insider Dell Faulkingham sold 6,426 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $11.58, for a total value of $74,413.08. Following the transaction, the insider now owns 73,574 shares of the company’s stock, valued at approximately $851,986.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AKBA stock traded up $0.14 during mid-day trading on Tuesday, hitting $11.31. 1,366,145 shares of the company were exchanged, compared to its average volume of 1,621,786. The business has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $7.69. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.42 billion, a PE ratio of -4.87 and a beta of 1.41. Akebia Therapeutics Inc has a 1-year low of $2.99 and a 1-year high of $13.17.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.15. Akebia Therapeutics had a negative net margin of 76.39% and a negative return on equity of 45.52%. The company had revenue of $88.48 million during the quarter, compared to the consensus estimate of $77.54 million. Equities research analysts expect that Akebia Therapeutics Inc will post -1.59 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its stake in shares of Akebia Therapeutics by 56.0% during the fourth quarter. California Public Employees Retirement System now owns 233,000 shares of the biopharmaceutical company’s stock worth $1,473,000 after buying an additional 83,687 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Akebia Therapeutics by 73.8% during the fourth quarter. SG Americas Securities LLC now owns 25,136 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 10,674 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Akebia Therapeutics during the fourth quarter worth $716,000. Advisory Services Network LLC bought a new stake in Akebia Therapeutics during the fourth quarter worth $27,000. Finally, Rhumbline Advisers grew its holdings in Akebia Therapeutics by 3.7% during the fourth quarter. Rhumbline Advisers now owns 183,902 shares of the biopharmaceutical company’s stock worth $1,162,000 after buying an additional 6,644 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, May 12th. Mizuho lifted their price target on shares of Akebia Therapeutics from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Royal Bank of Canada lifted their price target on shares of Akebia Therapeutics from $8.00 to $12.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Akebia Therapeutics from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Akebia Therapeutics from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Akebia Therapeutics has an average rating of “Buy” and a consensus target price of $15.29.

About Akebia Therapeutics

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.

Read More: What is the CAC 40 Index

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.