Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Reaffirmed by HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $7.50 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 374.68% from the stock’s previous close.

Akebia Therapeutics Stock Down 0.6 %

Shares of Akebia Therapeutics stock opened at $1.58 on Wednesday. Akebia Therapeutics has a 12-month low of $0.78 and a 12-month high of $2.48. The firm has a market capitalization of $331.16 million, a PE ratio of -6.87 and a beta of 0.77. The stock’s fifty day moving average is $1.41 and its 200-day moving average is $1.28.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data 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 company had revenue of $43.65 million for the quarter, compared to analyst estimates of $45.61 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. Analysts expect that Akebia Therapeutics will post -0.19 EPS for the current year.

Institutional Trading of Akebia Therapeutics

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Akebia Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock valued at $15,054,000 after acquiring an additional 618,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Akebia Therapeutics by 3,122.2% during the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares during the period. Renaissance Technologies LLC grew its position in Akebia Therapeutics by 7.2% during the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after purchasing an additional 262,700 shares in the last quarter. Rhumbline Advisers grew its position in Akebia Therapeutics by 4,915.4% during the second quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock valued at $252,000 after purchasing an additional 242,134 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at approximately $79,000. 33.92% of the stock is owned by institutional investors and hedge funds.

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.