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

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

Akebia Therapeutics Stock Up 19.7 %

Shares of AKBA opened at $1.64 on Wednesday. The firm has a market cap of $343.74 million, a price-to-earnings ratio of -7.13 and a beta of 0.77. The company’s fifty day moving average is $1.40 and its 200-day moving average is $1.28. 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 earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $43.65 million for the quarter, compared to the consensus estimate of $45.61 million. During the same quarter last year, the business earned ($0.06) earnings per share. As a group, research analysts predict that Akebia Therapeutics will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AKBA. Mercer Global Advisors Inc. ADV grew its holdings in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares during the last quarter. SG Americas Securities LLC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $34,000. Empirical Asset Management LLC bought a new position in Akebia Therapeutics in the 3rd quarter worth $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics during the 2nd quarter worth $44,000. Finally, Compass Ion Advisors LLC bought a new stake in Akebia Therapeutics during the first quarter valued at about $46,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.