Akebia Therapeutics (NASDAQ:AKBA) PT Set at $16.00 by Mizuho

Mizuho set a $16.00 price objective on Akebia Therapeutics (NASDAQ:AKBA) in a report published on Friday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. BidaskClub raised Akebia Therapeutics from a strong sell rating to a sell rating in a research note on Friday, August 2nd. Zacks Investment Research raised Akebia Therapeutics from a sell rating to a hold rating in a research note on Friday, July 12th. HC Wainwright dropped their price objective on Akebia Therapeutics from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday, August 6th. ValuEngine raised Akebia Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. began coverage on Akebia Therapeutics in a research note on Thursday, May 2nd. They issued an overweight rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $12.75.

NASDAQ:AKBA traded down $0.02 during mid-day trading on Friday, hitting $4.39. 999,774 shares of the company traded hands, compared to its average volume of 1,124,364. The company has a fifty day moving average of $4.18. Akebia Therapeutics has a one year low of $3.50 and a one year high of $10.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.15 and a current ratio of 1.71. The company has a market cap of $509.16 million, a price-to-earnings ratio of -1.80 and a beta of 1.43.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. Akebia Therapeutics had a negative return on equity of 38.39% and a negative net margin of 75.64%. The business had revenue of $100.80 million during the quarter, compared to analyst estimates of $88.35 million. As a group, equities research analysts expect that Akebia Therapeutics will post -1.29 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Quadrant L P CA bought a new position in shares of Akebia Therapeutics in the first quarter worth about $43,000. Aperio Group LLC bought a new position in shares of Akebia Therapeutics in the second quarter worth about $31,000. Advisor Group Inc. boosted its stake in shares of Akebia Therapeutics by 3,206.3% in the fourth quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 9,619 shares during the period. Jane Street Group LLC bought a new position in shares of Akebia Therapeutics in the fourth quarter worth about $57,000. Finally, Wedbush Securities Inc. bought a new position in shares of Akebia Therapeutics in the second quarter worth about $52,000. 70.45% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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