Akebia Therapeutics’ (AKBA) Buy Rating Reiterated at HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $7.50 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 485.94% from the company’s current price.

Akebia Therapeutics Stock Down 3.0 %

AKBA stock opened at $1.28 on Tuesday. Akebia Therapeutics has a 52-week low of $0.78 and a 52-week high of $2.48. The company’s 50-day simple moving average is $1.37 and its 200-day simple moving average is $1.31. The firm has a market cap of $268.28 million, a P/E ratio of -5.57 and a beta of 0.77.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $43.65 million for the quarter, compared to analyst estimates of $45.61 million. During the same period last year, the firm earned ($0.06) EPS. On average, analysts anticipate that Akebia Therapeutics will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

A number of large investors have recently made changes to their positions in AKBA. Compass Ion Advisors LLC acquired a new position in Akebia Therapeutics in the first quarter valued at about $46,000. Cannon Global Investment Management LLC purchased a new stake in shares of Akebia Therapeutics in the 1st quarter valued at $51,000. Mercer Global Advisors Inc. ADV lifted its stake in Akebia Therapeutics by 40.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares in the last quarter. SG Americas Securities LLC purchased a new position in Akebia Therapeutics during the 2nd quarter valued at about $34,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $44,000. 33.92% of the stock is currently 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. 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 patients.