Schwab Charles Investment Management Inc. increased its holdings in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) by 16.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 346,121 shares of the biopharmaceutical company’s stock after purchasing an additional 49,990 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Akebia Therapeutics were worth $3,299,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of AKBA. Teacher Retirement System of Texas bought a new position in Akebia Therapeutics during the fourth quarter worth about $188,000. DekaBank Deutsche Girozentrale bought a new position in Akebia Therapeutics during the first quarter worth about $201,000. Macquarie Group Ltd. grew its holdings in Akebia Therapeutics by 106.5% during the fourth quarter. Macquarie Group Ltd. now owns 19,200 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 9,900 shares during the period. MetLife Investment Advisors LLC bought a new position in Akebia Therapeutics during the fourth quarter worth about $319,000. Finally, LPL Financial LLC bought a new position in Akebia Therapeutics during the fourth quarter worth about $350,000. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of AKBA stock opened at $9.98 on Friday. Akebia Therapeutics Inc has a 12-month low of $7.90 and a 12-month high of $20.25.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.01. The firm had revenue of $45.93 million during the quarter, compared to the consensus estimate of $47.80 million. Akebia Therapeutics had a negative net margin of 27.48% and a negative return on equity of 47.15%. equities research analysts forecast that Akebia Therapeutics Inc will post -2.12 earnings per share for the current fiscal year.
A number of equities analysts recently commented on AKBA shares. Mizuho reiterated a “buy” rating and set a $24.00 price target on shares of Akebia Therapeutics in a report on Tuesday, March 13th. BidaskClub downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. HC Wainwright cut their price objective on shares of Akebia Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, June 6th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Finally, Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective for the company in a research report on Monday, May 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.83.
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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