JPMorgan Chase & Co. Acquires 9,662 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

JPMorgan Chase & Co. boosted its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,546 shares of the biopharmaceutical company’s stock after purchasing an additional 9,662 shares during the period. JPMorgan Chase & Co.’s holdings in Akebia Therapeutics were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AKBA. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics in the third quarter valued at $44,000. B. Riley Wealth Advisors Inc. acquired a new stake in Akebia Therapeutics in the second quarter valued at $44,000. XTX Topco Ltd acquired a new stake in Akebia Therapeutics in the third quarter valued at $58,000. Intech Investment Management LLC acquired a new stake in Akebia Therapeutics in the third quarter valued at $59,000. Finally, BNP Paribas Financial Markets lifted its stake in Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 31,137 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AKBA shares. StockNews.com cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a research note on Thursday, January 23rd.

Akebia Therapeutics Stock Down 2.6 %

AKBA stock opened at $2.24 on Monday. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $2.48. The firm has a market cap of $488.73 million, a P/E ratio of -9.74 and a beta of 0.72. The company’s 50-day moving average price is $2.00 and its two-hundred day moving average price is $1.66.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

About Akebia Therapeutics

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.