B. Riley Wealth Advisors Inc. Buys Shares of 43,360 Akebia Therapeutics, Inc. (NASDAQ:AKBA)

B. Riley Wealth Advisors Inc. bought a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 43,360 shares of the biopharmaceutical company’s stock, valued at approximately $44,000.

Several other institutional investors also recently modified their holdings of the stock. Compass Ion Advisors LLC bought a new stake in Akebia Therapeutics during the 1st quarter worth $46,000. Cannon Global Investment Management LLC bought a new stake in shares of Akebia Therapeutics during the first quarter worth about $51,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 9,037 shares during the period. SG Americas Securities LLC bought a new position in Akebia Therapeutics in the 2nd quarter valued at approximately $34,000. Finally, Lazard Asset Management LLC acquired a new stake in Akebia Therapeutics during the 1st quarter worth approximately $79,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $1.28 on Friday. The stock’s 50-day moving average price is $1.37 and its two-hundred day moving average price is $1.31. Akebia Therapeutics, Inc. has a 12 month low of $0.78 and a 12 month high of $2.48. The company has a market capitalization of $268.28 million, a PE ratio of -5.57 and a beta of 0.77.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $43.65 million during the quarter, compared to analyst estimates of $45.61 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Equities research analysts predict that Akebia Therapeutics, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Tuesday.

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.