Akebia Therapeutics, Inc. (NASDAQ:AKBA) Receives $5.40 Consensus Price Target from Analysts

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.40.

A number of analysts recently commented on AKBA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Akebia Therapeutics in a report on Friday, February 6th. BTIG Research lowered their target price on Akebia Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Zacks Research cut Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th.

Insider Buying and Selling at Akebia Therapeutics

In other Akebia Therapeutics news, CEO John P. Butler acquired 69,270 shares of Akebia Therapeutics stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $86,587.50. Following the completion of the acquisition, the chief executive officer directly owned 3,367,064 shares of the company’s stock, valued at $4,208,830. This represents a 2.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Richard C. Malabre sold 49,524 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.39, for a total transaction of $68,838.36. Following the sale, the chief accounting officer directly owned 299,390 shares of the company’s stock, valued at approximately $416,152.10. The trade was a 14.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

Several large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new position in Akebia Therapeutics during the 3rd quarter valued at about $42,000. Cibc World Markets Corp bought a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $27,000. Brevan Howard Capital Management LP bought a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $62,000. Unified Investment Management purchased a new position in shares of Akebia Therapeutics during the third quarter valued at approximately $49,000. Finally, Polymer Capital Management US LLC grew its holdings in Akebia Therapeutics by 49.5% during the third quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 6,034 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Trading Down 3.6%

NASDAQ:AKBA opened at $1.34 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.46 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $358.96 million, a price-to-earnings ratio of -66.97 and a beta of 0.39. The firm has a fifty day simple moving average of $1.36 and a two-hundred day simple moving average of $1.86. Akebia Therapeutics has a 12 month low of $1.14 and a 12 month high of $4.08.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $57.62 million for the quarter, compared to analyst estimates of $48.37 million. Akebia Therapeutics had a negative net margin of 2.26% and a negative return on equity of 16.70%. Analysts expect that Akebia Therapeutics will post -0.3 EPS for the current fiscal year.

About Akebia Therapeutics

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.