Akebia Therapeutics, Inc. (NASDAQ:AKBA) Given Consensus Rating of “Moderate Buy” by Brokerages

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts have issued reports on AKBA shares. Wall Street Zen lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. BTIG Research reiterated a “buy” rating and set a $5.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, January 21st. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd.

Institutional Investors Weigh In On Akebia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. lifted its position in shares of Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,000 shares in the last quarter. ProShare Advisors LLC lifted its stake in Akebia Therapeutics by 9.4% during the second quarter. ProShare Advisors LLC now owns 51,266 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 4,388 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Akebia Therapeutics by 26.0% during the 2nd quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,798 shares during the last quarter. PDS Planning Inc boosted its stake in Akebia Therapeutics by 11.1% in the second quarter. PDS Planning Inc now owns 50,000 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Akebia Therapeutics by 25.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 25,525 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 5,145 shares during the period. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Price Performance

AKBA opened at $1.45 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.80 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $384.79 million, a price-to-earnings ratio of -20.71 and a beta of 0.35. The business’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $2.45. Akebia Therapeutics has a 12-month low of $1.30 and a 12-month high of $4.08.

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.