Akebia Therapeutics Inc (AKBA) Given Consensus Recommendation of “Buy” by Brokerages

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Akebia Therapeutics Inc (NASDAQ:AKBA) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of analysts recently issued reports on AKBA shares. ValuEngine raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Wednesday, November 14th. Mizuho reaffirmed a “buy” rating and set a $17.00 price objective on shares of Akebia Therapeutics in a report on Tuesday, December 4th. Finally, BidaskClub raised shares of Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th.

Shares of NASDAQ AKBA opened at $6.29 on Friday. Akebia Therapeutics has a 1 year low of $5.20 and a 1 year high of $15.82. The firm has a market cap of $370.88 million, a P/E ratio of -3.55 and a beta of 1.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.18. Akebia Therapeutics had a negative net margin of 30.29% and a negative return on equity of 45.61%. The firm had revenue of $53.17 million for the quarter, compared to the consensus estimate of $39.71 million. As a group, analysts anticipate that Akebia Therapeutics will post -2.33 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Investors Inc. PA lifted its holdings in Akebia Therapeutics by 3,012.7% during the third quarter. Federated Investors Inc. PA now owns 10,054 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 9,731 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Akebia Therapeutics by 46.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 20,759 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 6,578 shares in the last quarter. LPL Financial LLC lifted its holdings in Akebia Therapeutics by 37.6% during the third quarter. LPL Financial LLC now owns 26,763 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 7,314 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Akebia Therapeutics by 592.3% during the second quarter. Macquarie Group Ltd. now owns 27,000 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 23,100 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Akebia Therapeutics by 29.1% during the third quarter. Russell Investments Group Ltd. now owns 30,432 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 6,860 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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