Akebia Therapeutics (NASDAQ:AKBA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a report issued on Tuesday morning,Benzinga reports. They currently have a $7.50 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Akebia Therapeutics’ FY2029 earnings at $2.17 EPS.

Separately, StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th.

Akebia Therapeutics Trading Down 0.5 %

AKBA opened at $1.93 on Tuesday. The company has a market cap of $421.09 million, a P/E ratio of -8.39 and a beta of 0.72. The company has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $1.57. Akebia Therapeutics has a 1-year low of $0.80 and a 1-year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, research analysts forecast that Akebia Therapeutics will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in shares of Akebia Therapeutics during the third quarter valued at approximately $534,000. BNP Paribas Financial Markets increased its position in shares of Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares during the last quarter. XTX Topco Ltd bought a new stake in Akebia Therapeutics in the third quarter worth about $58,000. Bank of New York Mellon Corp increased its stake in shares of Akebia Therapeutics by 3,122.2% during the 2nd 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 last quarter. Finally, State Street Corp raised its holdings in shares of Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after purchasing an additional 683,287 shares during the period. Institutional investors own 33.92% of the company’s stock.

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.