Akebia Therapeutics’ (AKBA) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $7.50 target price on the biopharmaceutical company’s stock.

Akebia Therapeutics Trading Down 3.0 %

NASDAQ AKBA opened at $1.59 on Wednesday. The company’s 50-day moving average price is $1.40 and its 200-day moving average price is $1.28. The stock has a market cap of $333.26 million, a PE ratio of -6.91 and a beta of 0.77. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Akebia Therapeutics in the second quarter worth about $34,000. Empirical Asset Management LLC purchased a new stake in Akebia Therapeutics in the third quarter worth about $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics in the second quarter worth about $44,000. Finally, Compass Ion Advisors LLC purchased a new stake in Akebia Therapeutics in the first quarter worth about $46,000. 33.92% of the stock is currently owned by institutional investors.

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.