Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $6.00 Average Price Target from Brokerages

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

AKBA has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Finally, Wall Street Zen downgraded Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. grew its stake in Akebia Therapeutics by 23.0% in the 1st 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. ProShare Advisors LLC grew its position in shares of Akebia Therapeutics by 9.4% in the second quarter. ProShare Advisors LLC now owns 51,266 shares of the biopharmaceutical company’s stock valued at $187,000 after purchasing an additional 4,388 shares during the period. Legal & General Group Plc increased its stake in Akebia Therapeutics by 26.0% in the second quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,798 shares during the last quarter. PDS Planning Inc lifted its position in Akebia Therapeutics by 11.1% during the second quarter. PDS Planning Inc now owns 50,000 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 5,000 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in Akebia Therapeutics by 25.2% during the second quarter. Ameritas Investment Partners Inc. now owns 25,525 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 5,145 shares during the period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Akebia Therapeutics Trading Down 0.6%

NASDAQ:AKBA opened at $1.61 on Thursday. Akebia Therapeutics has a 1 year low of $1.45 and a 1 year high of $4.08. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.80 and a current ratio of 1.94. The stock has a fifty day moving average price of $2.08 and a two-hundred day moving average price of $2.91. The stock has a market capitalization of $427.25 million, a price-to-earnings ratio of -23.00 and a beta of 0.31.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.