Several analysts have recently updated their ratings and price targets for Akebia Therapeutics (NASDAQ: AKBA):
- 3/28/2024 – Akebia Therapeutics had its price target raised by analysts at HC Wainwright from $5.00 to $6.00. They now have a “buy” rating on the stock.
- 3/26/2024 – Akebia Therapeutics was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
- 3/18/2024 – Akebia Therapeutics was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
- 3/15/2024 – Akebia Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $5.00 price target on the stock.
Akebia Therapeutics Trading Down 18.3 %
Shares of NASDAQ AKBA traded down $0.41 during midday trading on Friday, reaching $1.83. The company had a trading volume of 61,074,372 shares, compared to its average volume of 5,361,308. The business’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.30. Akebia Therapeutics, Inc. has a 1 year low of $0.49 and a 1 year high of $2.48. The stock has a market cap of $383.15 million, a P/E ratio of -6.54 and a beta of 0.78.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $56.20 million for the quarter, compared to analyst estimates of $55.64 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Analysts predict that Akebia Therapeutics, Inc. will post -0.27 earnings per share for the current year.
Insiders Place Their Bets
Hedge Funds Weigh In On Akebia Therapeutics
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Akebia Therapeutics by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,607,472 shares of the biopharmaceutical company’s stock worth $9,433,000 after acquiring an additional 86,155 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $88,000. Virtu Financial LLC acquired a new stake in Akebia Therapeutics during the fourth quarter worth approximately $74,000. Orchard Capital Management LLC boosted its holdings in Akebia Therapeutics by 29.9% in the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Akebia Therapeutics by 2.7% in the fourth quarter. Northern Trust Corp now owns 310,368 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 8,247 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.
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