Akebia Therapeutics’ (AKBA) “Buy” Rating Reiterated at HC Wainwright

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

Akebia Therapeutics Price Performance

NASDAQ:AKBA opened at $1.59 on Wednesday. The firm has a market capitalization of $333.26 million, a PE ratio of -6.91 and a beta of 0.77. The business’s fifty day moving average price is $1.41 and its 200 day moving average price is $1.28. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $43.65 million for the quarter, compared to analyst estimates of $45.61 million. During the same period last year, the business posted ($0.06) EPS. As a group, equities analysts anticipate that Akebia Therapeutics will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Akebia Therapeutics by 8.1% in the first 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 lifted its holdings in shares of 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 valued at $617,000 after purchasing an additional 585,789 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Akebia Therapeutics by 7.2% in the 2nd 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 during the period. Rhumbline Advisers grew its stake in Akebia Therapeutics by 4,915.4% during the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 242,134 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Akebia Therapeutics during the 1st quarter worth approximately $79,000. 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.