Akebia Therapeutics (NASDAQ:AKBA) Earns Buy Rating from HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $8.00 price objective on the biopharmaceutical company's stock. HC Wainwright's target price would indicate a potential upside of 133.92% from the company's current price.

• Akebia Therapeutics Surges on FDA Approval for Anemia Treatment

Several other research firms have also weighed in on AKBA. Jefferies Financial Group began coverage on shares of Akebia Therapeutics in a research note on Tuesday, April 1st. They issued a "buy" rating and a $6.00 price objective for the company. Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. Piper Sandler boosted their price target on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Leerink Partners began coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They set an "outperform" rating and a $7.00 price objective on the stock. Finally, Wall Street Zen upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $6.75.

Check Out Our Latest Report on Akebia Therapeutics

Akebia Therapeutics Stock Performance

Shares of NASDAQ AKBA opened at $3.42 on Wednesday. The company's 50 day moving average price is $2.33 and its 200-day moving average price is $2.11. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $3.49. The company has a market capitalization of $898.22 million, a P/E ratio of -14.87 and a beta of 0.88.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million for the quarter, compared to the consensus estimate of $44.88 million. Analysts forecast that Akebia Therapeutics will post -0.3 earnings per share for the current year.

Institutional Trading of Akebia Therapeutics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Akebia Therapeutics by 16.6% in the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock worth $24,357,000 after purchasing an additional 1,801,603 shares in the last quarter. Geode Capital Management LLC boosted its stake in Akebia Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company's stock worth $9,112,000 after purchasing an additional 40,631 shares during the period. Renaissance Technologies LLC grew its holdings in Akebia Therapeutics by 2.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company's stock valued at $7,265,000 after buying an additional 105,727 shares in the last quarter. AIGH Capital Management LLC bought a new stake in shares of Akebia Therapeutics during the first quarter valued at about $5,616,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Akebia Therapeutics by 171.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock worth $5,231,000 after buying an additional 1,722,245 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

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.

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