Akebia Therapeutics (AKBA) PT Lowered to $18.00
Akebia Therapeutics (NASDAQ:AKBA) had its price objective cut by stock analysts at Needham & Company LLC from $20.00 to $18.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 118.98% from the company’s current price.
A number of other research analysts have also recently issued reports on AKBA. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective for the company in a report on Monday, May 14th. HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a report on Friday, June 29th. Royal Bank of Canada restated a “hold” rating and set a $13.00 price objective on shares of Akebia Therapeutics in a report on Thursday. Finally, BidaskClub cut shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $20.71.
AKBA opened at $8.22 on Friday. The company has a market cap of $571.11 million, a P/E ratio of -4.64 and a beta of 1.11. Akebia Therapeutics has a fifty-two week low of $7.77 and a fifty-two week high of $20.25.
Institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new position in shares of Akebia Therapeutics in the first quarter valued at approximately $131,000. Lido Advisors LLC acquired a new position in Akebia Therapeutics during the first quarter worth $135,000. Cubist Systematic Strategies LLC acquired a new position in Akebia Therapeutics during the first quarter worth $158,000. Sun Life Financial INC acquired a new position in Akebia Therapeutics during the second quarter worth $193,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Akebia Therapeutics during the first quarter worth $201,000. Institutional investors own 75.99% of the company’s stock.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.
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