Akebia Therapeutics (NASDAQ:AKBA) Given “Buy” Rating at HC Wainwright

Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $7.50 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 357.32% from the company’s previous close.

Akebia Therapeutics Trading Up 19.7 %

Shares of Akebia Therapeutics stock opened at $1.64 on Wednesday. Akebia Therapeutics has a 1 year low of $0.78 and a 1 year high of $2.48. The company’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.28. The company has a market cap of $343.74 million, a price-to-earnings ratio of -7.13 and a beta of 0.77.

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

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Cannon Global Investment Management LLC acquired a new position in Akebia Therapeutics in the first quarter worth about $51,000. Compass Ion Advisors LLC bought a new stake in shares of Akebia Therapeutics in the 1st quarter valued at approximately $46,000. Vanguard Group Inc. raised its holdings in shares of Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after buying an additional 618,500 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Akebia Therapeutics during the 1st quarter worth approximately $79,000. Finally, SG Americas Securities LLC acquired a new stake in Akebia Therapeutics in the 2nd quarter valued at $34,000. 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.