Mizuho reaffirmed their buy rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research report report published on Tuesday morning. Mizuho currently has a $17.00 price objective on the biopharmaceutical company’s stock.
“We expect Akebia to compete with two other products within next-generation (HIF-PHI) anemia drugs and we believe order of market entry will be; 1) Fibrogen (FGEN, Buy, $74 PT)’s roxadustat, 2) Akebia’s vadadustat, and 3) GlaxoSmithKline (GSK, Not-rated)’s daprodustat, which we think is ~ 6 months behind vadadustat.”,” Mizuho’s analyst wrote.
AKBA has been the subject of several other reports. Morgan Stanley initiated coverage on Akebia Therapeutics in a report on Friday, September 7th. They issued a weight rating for the company. Raymond James initiated coverage on Akebia Therapeutics in a report on Monday, August 13th. They issued a buy rating and a $18.00 price objective for the company. BidaskClub upgraded Akebia Therapeutics from a strong sell rating to a sell rating in a report on Saturday, October 13th. ValuEngine downgraded Akebia Therapeutics from a hold rating to a sell rating in a report on Thursday, September 13th. Finally, Zacks Investment Research upgraded Akebia Therapeutics from a hold rating to a buy rating and set a $8.75 price objective for the company in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Akebia Therapeutics has an average rating of Buy and an average target price of $16.47.
AKBA stock opened at $8.53 on Tuesday. Akebia Therapeutics has a 1-year low of $6.68 and a 1-year high of $16.03.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.18. The firm had revenue of $53.17 million during the quarter, compared to the consensus estimate of $39.71 million. Akebia Therapeutics had a negative return on equity of 45.61% and a negative net margin of 30.29%. As a group, equities research analysts anticipate that Akebia Therapeutics will post -2.33 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised its holdings in Akebia Therapeutics by 129.7% in the second quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock worth $5,382,000 after purchasing an additional 304,490 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Akebia Therapeutics by 46.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,759 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 6,578 shares in the last quarter. Sun Life Financial INC bought a new position in Akebia Therapeutics in the second quarter worth about $193,000. OMERS ADMINISTRATION Corp bought a new position in Akebia Therapeutics in the second quarter worth about $557,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Akebia Therapeutics by 43.0% in the second quarter. Dynamic Technology Lab Private Ltd now owns 36,534 shares of the biopharmaceutical company’s stock worth $365,000 after purchasing an additional 10,978 shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.
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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