Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 10,130,000 shares, an increase of 24.9% from the February 29th total of 8,110,000 shares. Based on an average daily volume of 3,010,000 shares, the days-to-cover ratio is currently 3.4 days.
Akebia Therapeutics Stock Performance
Shares of AKBA stock opened at $1.83 on Friday. Akebia Therapeutics has a 52-week low of $0.49 and a 52-week high of $2.48. The stock has a market cap of $383.15 million, a price-to-earnings ratio of -6.54 and a beta of 0.78. The firm’s 50-day moving average is $1.63 and its 200-day moving average is $1.30.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Sell-side analysts predict that Akebia Therapeutics will post -0.27 EPS for the current fiscal year.
Insider Activity at Akebia Therapeutics
Institutional Investors Weigh In On Akebia Therapeutics
A number of large investors have recently added to or reduced their stakes in AKBA. Archer Investment Corp acquired a new position in shares of Akebia Therapeutics in the fourth quarter valued at $25,000. Eagle Wealth Strategies LLC acquired a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $25,000. Mackenzie Financial Corp lifted its holdings in Akebia Therapeutics by 37.6% during the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 6,330 shares during the last quarter. Raymond James & Associates boosted its stake in Akebia Therapeutics by 48.0% in the 4th quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 9,696 shares during the period. Finally, State of Wyoming acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $44,000. Institutional investors own 33.92% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on AKBA. HC Wainwright upped their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday.
View Our Latest Report on AKBA
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 adult patients.
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