Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) was upgraded by equities research analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued on Monday, Briefing.com reports. The firm presently has a $3.75 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 226.09% from the stock’s previous close.
AKBA has been the topic of a number of other research reports. Piper Sandler raised Akebia Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 31st. StockNews.com began coverage on Akebia Therapeutics in a report on Thursday, August 17th. They set a “hold” rating on the stock.
Read Our Latest Stock Analysis on AKBA
Akebia Therapeutics Trading Down 8.0 %
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last released its earnings results on Friday, August 25th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Akebia Therapeutics had a negative return on equity of 235.17% and a negative net margin of 20.79%. The firm had revenue of $56.38 million for the quarter, compared to the consensus estimate of $59.10 million. During the same period in the prior year, the business earned $0.23 EPS. Sell-side analysts forecast that Akebia Therapeutics will post -0.28 EPS for the current fiscal year.
Institutional Trading of Akebia Therapeutics
Several hedge funds have recently made changes to their positions in the stock. Alerce Investment Management L.P. lifted its holdings in shares of Akebia Therapeutics by 7.4% in the 1st quarter. Alerce Investment Management L.P. now owns 16,205,119 shares of the biopharmaceutical company’s stock worth $9,081,000 after purchasing an additional 1,115,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Akebia Therapeutics by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock worth $10,339,000 after purchasing an additional 1,167,319 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Akebia Therapeutics by 65.8% in the 2nd quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company’s stock worth $1,891,000 after purchasing an additional 2,124,161 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Akebia Therapeutics by 42.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,330,727 shares of the biopharmaceutical company’s stock worth $3,048,000 after purchasing an additional 992,227 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Akebia Therapeutics by 1.2% in the 2nd quarter. BlackRock Inc. now owns 2,736,856 shares of the biopharmaceutical company’s stock worth $2,504,000 after purchasing an additional 33,333 shares during the last quarter. Institutional investors own 27.96% of the company’s stock.
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 adult patients.
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