Brean Capital started coverage on shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) in a research note released on Thursday morning. The brokerage issued a buy rating and a $18.00 price objective on the biopharmaceutical company’s stock.
“We like Akebia’s asset, vadadustat, which is a new MOA for treating anemia. If successfully developed, it could change the standard of care,” analyst Difei Yang wrote in a note.Related Link: Sarepta Dosing First Patients In Phase 3 Trial Of Duchenne Muscular Dystrophy Drug”International partnerships aside, Akebia will commercialize vadadustat on its own in the US and we project sales to be around $515 mil in 2022, with sales for ND-CKD indication alone,,” the firm’s analyst commented.
A number of other analysts also recently weighed in on AKBA. Zacks Investment Research downgraded shares of Akebia Therapeutics from a hold rating to a sell rating in a research report on Thursday, August 11th. Credit Suisse Group AG reissued a hold rating on shares of Akebia Therapeutics in a research note on Tuesday, July 12th. JMP Securities reissued a market perform rating and set a $16.00 target price on shares of Akebia Therapeutics in a research note on Thursday, August 11th. Finally, HC Wainwright reissued a buy rating on shares of Akebia Therapeutics in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $14.43.
Akebia Therapeutics (NASDAQ:AKBA) traded up 1.61% during midday trading on Thursday, reaching $8.86. 12,292 shares of the company were exchanged. The firm’s 50-day moving average is $8.46 and its 200-day moving average is $8.62. The firm’s market cap is $162.14 million. Akebia Therapeutics has a one year low of $7.00 and a one year high of $13.20.
Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by $0.38. On average, equities analysts expect that Akebia Therapeutics will post ($3.73) EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. acquired a new position in shares of Akebia Therapeutics during the second quarter valued at $105,000. BlackRock Advisors LLC boosted its position in shares of Akebia Therapeutics by 4.3% in the second quarter. BlackRock Advisors LLC now owns 16,531 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 676 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Akebia Therapeutics during the second quarter valued at $147,000. American International Group Inc. boosted its position in shares of Akebia Therapeutics by 44.9% in the second quarter. American International Group Inc. now owns 20,684 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 6,405 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Akebia Therapeutics during the second quarter valued at $243,000. 51.58% of the stock is owned by institutional investors.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology, and the commercialization of these products for patients with serious medical needs. The Company’s segment is the business of developing and commercializing proprietary therapeutics based on HIF biology.
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