Akebia Therapeutics Inc. (NASDAQ:AKBA) fell 2.2% during trading on Thursday . The stock traded as low as $8.36 and last traded at $8.60, with a volume of 151,742 shares. The stock had previously closed at $8.79.

Several research firms have commented on AKBA. Credit Suisse Group AG reiterated a “hold” rating on shares of Akebia Therapeutics in a research note on Tuesday. Zacks Investment Research lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Monday, May 16th. Brean Capital reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.00.

The firm’s market cap is $156.83 million. The firm’s 50 day moving average price is $8.25 and its 200-day moving average price is $8.53.

An institutional investor recently raised its position in Akebia Therapeutics stock. Wells Fargo & Company MN increased its stake in shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) by 592.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,151 shares of the biopharmaceutical company’s stock after buying an additional 78,841 shares during the period. Wells Fargo & Company MN owned about 0.50% of Akebia Therapeutics worth $1,190,000 at the end of the most recent 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.