Akebia Therapeutics Inc. (NASDAQ:AKBA)’s share price shot up 5.5% during trading on Wednesday . The stock traded as high as $7.99 and last traded at $7.91, with a volume of 63,565 shares changing hands. The stock had previously closed at $7.50.

Several brokerages have commented on AKBA. Zacks Investment Research downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Monday, May 16th. Brean Capital reiterated a “buy” rating on shares of Akebia Therapeutics in a report on Sunday, May 8th. Morgan Stanley reiterated a “buy” rating on shares of Akebia Therapeutics in a report on Sunday, May 8th. Finally, Needham & Company LLC lowered their target price on Akebia Therapeutics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.00.

The stock has a 50 day moving average of $8.21 and a 200-day moving average of $8.64. The firm’s market capitalization is $145.67 million.

Several hedge funds and institutional investors have modified their holdings of the company. Russell Frank Co raised its position in shares of Akebia Therapeutics by 102.4% in the fourth quarter. Russell Frank Co now owns 111,169 shares of the biopharmaceutical company’s stock worth $1,411,000 after buying an additional 56,251 shares in the last quarter. EAM Investors LLC raised its position in shares of Akebia Therapeutics by 57.6% in the fourth quarter. EAM Investors LLC now owns 380,433 shares of the biopharmaceutical company’s stock worth $4,915,000 after buying an additional 138,993 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Akebia Therapeutics by 592.3% in the fourth quarter. Wells Fargo & Company MN now owns 92,151 shares of the biopharmaceutical company’s stock worth $1,190,000 after buying an additional 78,841 shares in the last quarter.

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology, and the commercialization of these products for patients with serious medical needs. The Company’s segment is the business of developing and commercializing proprietary therapeutics based on HIF biology.

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