BTIG Research Has Lowered Expectations for Akebia Therapeutics (NASDAQ:AKBA) Stock Price

Akebia Therapeutics (NASDAQ:AKBA) had its price target reduced by research analysts at BTIG Research from $5.00 to $4.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price target suggests a potential upside of 222.58% from the stock’s current price.

Several other equities research analysts have also recently commented on AKBA. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, January 21st. Piper Sandler cut their price objective on shares of Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Wall Street Zen cut shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Akebia Therapeutics in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.40.

Akebia Therapeutics Price Performance

Shares of AKBA opened at $1.24 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.80 and a current ratio of 1.94. Akebia Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $4.08. The firm has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $2.13. The company has a market capitalization of $329.06 million, a price-to-earnings ratio of -17.71 and a beta of 0.38.

Insider Buying and Selling

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 49,524 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.39, for a total transaction of $68,838.36. Following the completion of the transaction, the chief accounting officer directly owned 299,390 shares in the company, valued at approximately $416,152.10. This trade represents a 14.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AKBA. Baird Financial Group Inc. lifted its stake in Akebia Therapeutics by 23.0% in the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 4,000 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Akebia Therapeutics by 9.4% in the second quarter. ProShare Advisors LLC now owns 51,266 shares of the biopharmaceutical company’s stock valued at $187,000 after acquiring an additional 4,388 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Akebia Therapeutics by 26.0% during the second quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,798 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Akebia Therapeutics by 25.2% during the second quarter. Ameritas Investment Partners Inc. now owns 25,525 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 5,145 shares during the last quarter. Finally, Polymer Capital Management US LLC increased its position in Akebia Therapeutics by 49.5% during the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,034 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.