HC Wainwright Boosts Akebia Therapeutics (NASDAQ:AKBA) Price Target to $7.50

Akebia Therapeutics (NASDAQ:AKBA) had its target price boosted by HC Wainwright from $6.00 to $7.50 in a research note published on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Akebia Therapeutics’ Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.22) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.12) EPS, FY2027 earnings at $0.40 EPS and FY2028 earnings at $1.29 EPS.

Separately, StockNews.com downgraded Akebia Therapeutics from a buy rating to a hold rating in a research report on Monday, April 29th.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $1.35 on Monday. The company has a 50-day simple moving average of $1.16 and a 200-day simple moving average of $1.36. The company has a market cap of $282.95 million, a PE ratio of -5.87 and a beta of 0.77. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $43.65 million during the quarter, compared to analysts’ expectations of $45.61 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, analysts anticipate that Akebia Therapeutics will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Akebia Therapeutics by 48.0% in the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 9,696 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Akebia Therapeutics in the 4th quarter worth about $248,000. Mackenzie Financial Corp lifted its stake in shares of Akebia Therapeutics by 37.6% in the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 6,330 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Akebia Therapeutics during the 4th quarter worth about $25,000. Finally, Eagle Wealth Strategies LLC acquired a new stake in Akebia Therapeutics during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

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.