Key Points
- CEO John Butler purchased 69,270 shares at an average price of $1.25 on March 4, a $86,587.50 transaction that raised his direct ownership to 3,367,064 shares (a 2.10% increase).
- AKBA shares traded up about 5.5% to $1.26 after the quarter in which the company missed EPS expectations (‑$0.05 vs. ‑$0.03) but beat revenue estimates ($57.62M vs. $48.37M); analysts hold a consensus “Moderate Buy” with an average target of $5.40.
Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) CEO John Butler purchased 69,270 shares of Akebia Therapeutics stock in a transaction on Wednesday, March 4th. The stock was bought at an average cost of $1.25 per share, for a total transaction of $86,587.50. Following the transaction, the chief executive officer directly owned 3,367,064 shares in the company, valued at $4,208,830. This represents a 2.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Akebia Therapeutics Stock Up 5.5%
Shares of AKBA stock traded up $0.07 during trading hours on Friday, reaching $1.26. 1,349,344 shares of the stock were exchanged, compared to its average volume of 3,365,563. The business's fifty day moving average is $1.39 and its two-hundred day moving average is $2.05. The firm has a market capitalization of $336.19 million, a P/E ratio of -62.72 and a beta of 0.39. Akebia Therapeutics, Inc. has a 12-month low of $1.14 and a 12-month high of $4.08. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.55 and a quick ratio of 1.46.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Akebia Therapeutics had a negative return on equity of 16.70% and a negative net margin of 2.26%.The firm had revenue of $57.62 million for the quarter, compared to analyst estimates of $48.37 million. As a group, research analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in Akebia Therapeutics by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 6,074,458 shares of the biopharmaceutical company's stock valued at $22,115,000 after acquiring an additional 1,043,718 shares during the period. Citigroup Inc. grew its stake in shares of Akebia Therapeutics by 1,324.7% in the 3rd quarter. Citigroup Inc. now owns 1,916,692 shares of the biopharmaceutical company's stock valued at $5,233,000 after purchasing an additional 1,782,162 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Akebia Therapeutics by 21.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,180,759 shares of the biopharmaceutical company's stock valued at $4,298,000 after purchasing an additional 210,925 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Akebia Therapeutics during the third quarter worth approximately $1,165,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Akebia Therapeutics during the second quarter worth $4,913,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have issued reports on AKBA shares. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Akebia Therapeutics in a report on Friday, February 6th. Piper Sandler dropped their price target on shares of Akebia Therapeutics from $6.00 to $4.00 and set an "overweight" rating on the stock in a research note on Friday, February 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. BTIG Research lowered their target price on shares of Akebia Therapeutics from $5.00 to $4.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Zacks Research downgraded shares of Akebia Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.40.
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Akebia Therapeutics Company Profile
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Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company's lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia's research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.
Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.
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