Akebia Therapeutics Inc (AKBA) Receives $15.00 Average Target Price from Analysts

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Akebia Therapeutics Inc (NASDAQ:AKBA) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $15.00.

A number of equities research analysts recently commented on the company. BidaskClub lowered Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Citigroup assumed coverage on Akebia Therapeutics in a research report on Wednesday, March 20th. They issued a “neutral” rating and a $9.00 target price on the stock. Finally, Zacks Investment Research lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 1st.

A number of hedge funds and other institutional investors have recently modified their holdings of AKBA. Baupost Group LLC MA purchased a new stake in Akebia Therapeutics in the 4th quarter worth approximately $135,327,000. BlackRock Inc. boosted its position in Akebia Therapeutics by 57.5% in the 4th quarter. BlackRock Inc. now owns 8,296,503 shares of the biopharmaceutical company’s stock worth $45,881,000 after purchasing an additional 3,027,657 shares in the last quarter. Clearbridge Investments LLC boosted its position in Akebia Therapeutics by 787,904.7% in the 3rd quarter. Clearbridge Investments LLC now owns 1,016,526 shares of the biopharmaceutical company’s stock worth $8,976,000 after purchasing an additional 1,016,397 shares in the last quarter. Norges Bank purchased a new stake in Akebia Therapeutics in the 4th quarter worth approximately $3,497,000. Finally, Morgan Stanley boosted its position in Akebia Therapeutics by 35.7% in the 3rd quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after purchasing an additional 496,069 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Shares of NASDAQ AKBA opened at $6.67 on Friday. The company has a market capitalization of $781.20 million, a P/E ratio of -2.73 and a beta of 1.48. Akebia Therapeutics has a 52 week low of $5.20 and a 52 week high of $11.60.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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