Research analysts at Royal Bank Of Canada began coverage on shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in a research report issued to clients and investors on Thursday. The brokerage set a “sector perform” rating and a $17.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 1.73% from the stock’s current price.
AKBA has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target (up previously from $18.00) on shares of Akebia Therapeutics in a research report on Wednesday, May 17th. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday, August 14th. HC Wainwright lowered their price target on Akebia Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, July 10th. Aegis reissued a “buy” rating and set a $25.00 price target on shares of Akebia Therapeutics in a research report on Thursday, May 18th. Finally, BidaskClub downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.25.
Akebia Therapeutics (AKBA) opened at 17.30 on Thursday. The company’s 50-day moving average price is $15.33 and its 200 day moving average price is $12.94. The firm’s market cap is $316.59 million. Akebia Therapeutics has a 1-year low of $7.16 and a 1-year high of $17.79.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts expect that Akebia Therapeutics will post ($2.68) earnings per share for the current fiscal year.
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In other Akebia Therapeutics news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the transaction, the senior vice president now owns 102,224 shares in the company, valued at $1,533,360. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Muneer A. Satter acquired 1,034,482 shares of Akebia Therapeutics stock in a transaction on Wednesday, July 5th. The shares were bought at an average price of $14.50 per share, for a total transaction 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 worth $111,287. 7.95% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of AKBA. Teachers Advisors LLC lifted its stake in shares of Akebia Therapeutics by 4.0% during the fourth quarter. Teachers Advisors LLC now owns 63,804 shares of the biopharmaceutical company’s stock worth $664,000 after purchasing an additional 2,454 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Akebia Therapeutics by 734.2% during the first quarter. Russell Investments Group Ltd. now owns 89,467 shares of the biopharmaceutical company’s stock worth $823,000 after purchasing an additional 78,742 shares in the last quarter. American International Group Inc. lifted its stake in shares of Akebia Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 1,460 shares in the last quarter. Piermont Capital Management Inc. acquired a new position in shares of Akebia Therapeutics during the first quarter worth about $595,000. Finally, Wellington Management Group LLP lifted its stake in shares of Akebia Therapeutics by 17.4% during the first quarter. Wellington Management Group LLP now owns 152,020 shares of the biopharmaceutical company’s stock worth $1,399,000 after purchasing an additional 22,520 shares in the last quarter. Institutional investors own 57.62% of the company’s stock.
Akebia Therapeutics Company Profile
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).
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