Akebia Therapeutics (NASDAQ:AKBA) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a $7.50 price objective on the biopharmaceutical company’s stock.

Akebia Therapeutics Stock Down 2.2 %

Shares of Akebia Therapeutics stock opened at $1.35 on Friday. The firm has a market cap of $282.95 million, a price-to-earnings ratio of -5.87 and a beta of 0.77. The business has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.35. Akebia Therapeutics has a twelve month low of $0.78 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $43.65 million for the quarter, compared to the consensus estimate of $45.61 million. During the same quarter last year, the business earned ($0.06) EPS. On average, equities analysts expect that Akebia Therapeutics will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in Akebia Therapeutics in the 1st quarter valued at $1,447,000. Vanguard Group Inc. grew its holdings in shares of Akebia Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after purchasing an additional 618,500 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Akebia Therapeutics by 3,122.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after buying an additional 585,789 shares during the period. Renaissance Technologies LLC lifted its holdings in Akebia Therapeutics by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after buying an additional 262,700 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Akebia Therapeutics by 4,915.4% in the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 242,134 shares during the period. 33.92% of the stock is owned by hedge funds and other institutional investors.

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.