Akebia Therapeutics Inc. (AKBA) Sees Unusually-High Trading Volume
Akebia Therapeutics Inc. (NASDAQ:AKBA) saw an uptick in trading volume on Wednesday . 373,295 shares changed hands during mid-day trading, an increase of 21% from the previous session’s volume of 309,762 shares.The stock last traded at $8.95 and had previously closed at $8.87.
A number of equities research analysts have recently weighed in on AKBA shares. Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, April 12th. Credit Suisse Group AG reiterated a “hold” rating on shares of Akebia Therapeutics in a research report on Tuesday. HC Wainwright cut their price objective on Akebia Therapeutics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 16th. Needham & Company LLC cut their price objective on Akebia Therapeutics from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, March 16th. Finally, Brean Capital started coverage on Akebia Therapeutics in a research report on Wednesday, March 16th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.00.
The firm’s 50 day moving average is $8.26 and its 200-day moving average is $8.53. The stock’s market cap is $160.86 million.
A number of institutional investors have recently made changes to their positions in the stock. 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 during the last quarter. Wells Fargo & Company MN increased its stake 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 during the period. Finally, Russell Frank Co increased its stake 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 during the period.
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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