Shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) shot up 4.2% on Wednesday . The company traded as high as $9.13 and last traded at $9.08, with a volume of 147,582 shares traded. The stock had previously closed at $8.71.

A number of research firms have recently weighed in on AKBA. Zacks Investment Research raised 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 note on Tuesday, July 12th. Brean Capital reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. Morgan Stanley reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Monday, May 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Akebia Therapeutics has a consensus rating of “Buy” and an average target price of $16.00.

The company’s market capitalization is $167.99 million. The stock’s 50-day moving average is $8.18 and its 200-day moving average is $8.37.

An institutional investor recently raised its position in Akebia Therapeutics stock. Russell Frank Co raised its position in shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) by 102.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 111,169 shares of the biopharmaceutical company’s stock after buying an additional 56,251 shares during the period. Russell Frank Co owned 0.61% of Akebia Therapeutics worth $1,411,000 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.

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