Akebia Therapeutics, Inc. (AKBA) Receives New Coverage from Analysts at Royal Bank Of Canada
Royal Bank Of Canada assumed coverage on shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in a research note issued to investors on Thursday. The brokerage issued a sector perform rating and a $17.00 price objective on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded Akebia Therapeutics from a sell rating to a hold rating in a report on Friday, September 1st. BidaskClub upgraded Akebia Therapeutics from a sell rating to a hold rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded Akebia Therapeutics from a hold rating to a buy rating and set a $16.00 target price for the company in a report on Monday, August 14th. HC Wainwright reiterated a buy rating and issued a $24.00 target price on shares of Akebia Therapeutics in a report on Wednesday, August 9th. Finally, Aegis reiterated a buy rating on shares of Akebia Therapeutics in a report on Friday, June 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Akebia Therapeutics currently has a consensus rating of Buy and a consensus price target of $19.88.
Shares of Akebia Therapeutics (NASDAQ AKBA) traded down 2.43% during mid-day trading on Thursday, reaching $17.30. The company’s stock had a trading volume of 1,854,298 shares. The company’s 50-day moving average price is $15.21 and its 200-day moving average price is $12.89. The stock’s market capitalization is $316.59 million. Akebia Therapeutics has a 12-month low of $7.16 and a 12-month high of $17.79.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to analysts’ expectations of $26.50 million. On average, equities research analysts forecast that Akebia Therapeutics will post ($2.68) earnings per share for the current fiscal year.
In related news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the completion of the transaction, the senior vice president now owns 102,224 shares in the company, valued at approximately $1,533,360. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Muneer A. Satter acquired 1,034,482 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired at an average price of $14.50 per share, with a total value of $14,999,989.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,544 shares of company stock valued at $111,287. 7.95% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its position in Akebia Therapeutics by 165.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 38,900 shares of the biopharmaceutical company’s stock valued at $559,000 after purchasing an additional 24,222 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Akebia Therapeutics during the 2nd quarter valued at $159,000. RA Capital Management LLC bought a new stake in Akebia Therapeutics during the 2nd quarter valued at $12,018,000. State Street Corp raised its position in Akebia Therapeutics by 72.9% during the 2nd quarter. State Street Corp now owns 946,888 shares of the biopharmaceutical company’s stock valued at $13,604,000 after purchasing an additional 399,160 shares in the last quarter. Finally, DAFNA Capital Management LLC raised its position in Akebia Therapeutics by 92.7% during the 2nd quarter. DAFNA Capital Management LLC now owns 135,738 shares of the biopharmaceutical company’s stock valued at $1,951,000 after purchasing an additional 65,283 shares in the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.
About Akebia Therapeutics
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
Receive News & Ratings for Akebia Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.