Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Reaffirmed by HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $7.50 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 374.68% from the stock’s previous close.

Akebia Therapeutics Stock Down 0.6 %

AKBA stock opened at $1.58 on Wednesday. The stock has a market cap of $331.16 million, a PE ratio of -6.87 and a beta of 0.77. The firm’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.28. Akebia Therapeutics has a fifty-two week low of $0.78 and a fifty-two week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $43.65 million during the quarter, compared to analyst estimates of $45.61 million. During the same quarter in the previous year, the business posted ($0.06) EPS. Equities analysts forecast that Akebia Therapeutics will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AKBA. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics in the third quarter worth about $44,000. SG Americas Securities LLC raised its position in shares of Akebia Therapeutics by 117.1% during the 3rd quarter. SG Americas Securities LLC now owns 71,965 shares of the biopharmaceutical company’s stock worth $95,000 after buying an additional 38,821 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Akebia Therapeutics in the 2nd quarter worth approximately $44,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Akebia Therapeutics by 7.2% in the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after acquiring an additional 262,700 shares in the last quarter. 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.