Akebia Therapeutics (NASDAQ:AKBA) Trading 9.5% Higher

Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) traded up 9.5% during trading on Wednesday . The stock traded as high as $7.33 and last traded at $7.93, 57,098 shares changed hands during mid-day trading. A decline of 97% from the average session volume of 1,811,395 shares. The stock had previously closed at $7.24.

Several analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Akebia Therapeutics in a report on Wednesday, February 19th. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Zacks Investment Research upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Mizuho reiterated a “buy” rating and issued a $15.00 target price on shares of Akebia Therapeutics in a report on Thursday, March 19th. Finally, BidaskClub cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Akebia Therapeutics presently has an average rating of “Buy” and a consensus price target of $14.75.

The stock has a market capitalization of $993.43 million, a P/E ratio of -3.19 and a beta of 1.39. The business has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $6.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.49.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.32). The business had revenue of $69.56 million for the quarter, compared to the consensus estimate of $95.40 million. Akebia Therapeutics had a negative return on equity of 39.65% and a negative net margin of 83.48%. On average, sell-side analysts anticipate that Akebia Therapeutics Inc will post -1.69 earnings per share for the current year.

In other Akebia Therapeutics news, COO Michel Dahan sold 6,972 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $8.70, for a total transaction of $60,656.40. Following the transaction, the chief operating officer now directly owns 211,932 shares in the company, valued at approximately $1,843,808.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicole R. Hadas sold 7,050 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $8.70, for a total value of $61,335.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,998 shares of company stock worth $182,683 over the last 90 days. Company insiders own 2.66% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC boosted its holdings in shares of Akebia Therapeutics by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,727,283 shares of the biopharmaceutical company’s stock worth $10,916,000 after buying an additional 13,777 shares in the last quarter. Norges Bank acquired a new position in shares of Akebia Therapeutics during the fourth quarter worth approximately $5,815,000. Fusion Capital LLC acquired a new position in shares of Akebia Therapeutics during the fourth quarter worth approximately $67,000. Geode Capital Management LLC raised its position in shares of Akebia Therapeutics by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 1,657,828 shares of the biopharmaceutical company’s stock worth $10,477,000 after purchasing an additional 79,006 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Akebia Therapeutics by 33.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,358,100 shares of the biopharmaceutical company’s stock worth $14,903,000 after purchasing an additional 585,800 shares during the period. Hedge funds and other institutional investors own 64.44% of the company’s stock.

Akebia Therapeutics Company Profile (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

Featured Story: CBOE Russell 2000® Volatility Index

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.