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

HC Wainwright reissued their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research note issued to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a $7.50 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

Akebia Therapeutics Trading Down 0.4 %

NASDAQ AKBA opened at $2.38 on Thursday. The business has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $1.62. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48. The firm has a market capitalization of $519.27 million, a P/E ratio of -10.35 and a beta of 0.72.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same period in the prior year, the company posted ($0.08) EPS. As a group, sell-side analysts predict that Akebia Therapeutics will post -0.3 EPS for the current fiscal year.

Institutional Trading of Akebia Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its position in shares of Akebia Therapeutics by 40.7% during the 2nd 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 period. Empirical Asset Management LLC bought a new position in Akebia Therapeutics during the third quarter valued at $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics in the second quarter worth $44,000. XTX Topco Ltd bought a new stake in shares of Akebia Therapeutics in the third quarter valued at $58,000. Finally, Intech Investment Management LLC bought a new stake in shares of Akebia Therapeutics in the third quarter valued at $59,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

About Akebia Therapeutics

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.