Akebia Therapeutics’ (AKBA) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $7.50 price target on the biopharmaceutical company’s stock.

Akebia Therapeutics Stock Up 0.6 %

Shares of Akebia Therapeutics stock opened at $1.59 on Wednesday. Akebia Therapeutics has a twelve month low of $0.78 and a twelve month high of $2.48. The stock has a market cap of $333.26 million, a price-to-earnings ratio of -6.91 and a beta of 0.77. The company’s fifty day moving average is $1.41 and its 200 day moving average is $1.28.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $43.65 million for the quarter, compared to the consensus estimate of $45.61 million. During the same period last year, the company posted ($0.06) EPS. As a group, equities analysts anticipate that Akebia Therapeutics will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

A number of institutional investors have recently bought and sold shares of AKBA. Mercer Global Advisors Inc. ADV boosted its position in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,037 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Akebia Therapeutics during the second quarter valued at about $34,000. Empirical Asset Management LLC acquired a new position in shares of Akebia Therapeutics during the third quarter valued at about $44,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Akebia Therapeutics in the 2nd quarter worth about $44,000. Finally, Compass Ion Advisors LLC acquired a new stake in shares of Akebia Therapeutics in the 1st quarter worth about $46,000. Institutional investors own 33.92% of the company’s stock.

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.