Akebia Therapeutics Inc. (NASDAQ:AKBA) shares saw strong trading volume on Tuesday . 714,158 shares traded hands during mid-day trading, an increase of 213% from the previous session’s volume of 228,464 shares.The stock last traded at $8.75 and had previously closed at $8.98.

A number of research analysts have weighed in on AKBA shares. Brean Capital reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. Morgan Stanley reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research note on Sunday, May 8th. Zacks Investment Research raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Credit Suisse Group AG reissued a “hold” rating on shares of Akebia Therapeutics in a research report on Tuesday, July 12th. Finally, HC Wainwright reissued a “buy” rating on shares of Akebia Therapeutics in a research report on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.00.

The stock has a 50 day moving average price of $8.25 and a 200-day moving average price of $8.40. The company’s market capitalization is $160.12 million.

An institutional investor recently raised its position in Akebia Therapeutics stock. Russell Frank Co boosted its stake in shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) by 102.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

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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