HC Wainwright Increases Akebia Therapeutics (NASDAQ:AKBA) Price Target to $7.50

Akebia Therapeutics (NASDAQ:AKBA) had its price objective raised by HC Wainwright from $6.00 to $7.50 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Akebia Therapeutics’ Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.22) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.12) EPS, FY2027 earnings at $0.40 EPS and FY2028 earnings at $1.29 EPS.

Separately, StockNews.com downgraded shares of Akebia Therapeutics from a buy rating to a hold rating in a report on Monday, April 29th.

Akebia Therapeutics Price Performance

Shares of NASDAQ:AKBA opened at $1.44 on Monday. Akebia Therapeutics has a 1-year low of $0.78 and a 1-year high of $2.48. The company has a market capitalization of $301.82 million, a P/E ratio of -6.26 and a beta of 0.77. The firm’s 50 day simple moving average is $1.17 and its two-hundred day simple moving average is $1.36.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $43.65 million for the quarter, compared to analysts’ expectations of $45.61 million. During the same period in the prior year, the firm earned ($0.06) EPS. On average, sell-side analysts anticipate that Akebia Therapeutics will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its position in Akebia Therapeutics by 37.6% in the fourth 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. Mercer Global Advisors Inc. ADV increased its position in 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 worth $32,000 after purchasing an additional 9,037 shares during the last quarter. Raymond James & Associates increased its position in Akebia Therapeutics by 48.0% in the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 9,696 shares during the last quarter. Archer Investment Corp bought a new stake in Akebia Therapeutics in the fourth quarter worth $25,000. Finally, Orchard Capital Management LLC increased its position in Akebia Therapeutics by 29.9% in the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 33.92% 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 patients.