Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 205.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,270 shares of the biopharmaceutical company’s stock after purchasing an additional 31,137 shares during the period. BNP Paribas Financial Markets’ holdings in Akebia Therapeutics were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Akebia Therapeutics by 26.0% in the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock worth $900,000 after buying an additional 140,529 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Akebia Therapeutics during the 3rd quarter valued at approximately $104,000. Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $59,000. CWA Asset Management Group LLC purchased a new stake in Akebia Therapeutics during the third quarter worth $65,000. Finally, Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the third quarter valued at $44,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Up 1.7 %

Shares of NASDAQ AKBA opened at $1.79 on Friday. The firm has a market cap of $390.54 million, a price-to-earnings ratio of -7.78 and a beta of 0.70. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $2.48. The company’s 50-day simple moving average is $1.79 and its 200-day simple moving average is $1.45.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AKBA. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd.

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.