Amalgamated Bank purchased a new position in Akebia Therapeutics Inc (NASDAQ:AKBA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,939 shares of the biopharmaceutical company’s stock, valued at approximately $72,000.
A number of other large investors have also recently made changes to their positions in the business. Baupost Group LLC MA purchased a new stake in shares of Akebia Therapeutics during the fourth quarter valued at approximately $135,327,000. BlackRock Inc. increased its position in Akebia Therapeutics by 57.5% in the fourth quarter. BlackRock Inc. now owns 8,296,503 shares of the biopharmaceutical company’s stock worth $45,881,000 after buying an additional 3,027,657 shares during the last quarter. Clearbridge Investments LLC increased its position in Akebia Therapeutics by 787,904.7% in the third quarter. Clearbridge Investments LLC now owns 1,016,526 shares of the biopharmaceutical company’s stock worth $8,976,000 after buying an additional 1,016,397 shares during the last quarter. Morgan Stanley increased its position in Akebia Therapeutics by 35.7% in the third quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after buying an additional 496,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Akebia Therapeutics by 107.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 942,599 shares of the biopharmaceutical company’s stock worth $5,212,000 after buying an additional 488,972 shares during the last quarter. Institutional investors and hedge funds own 68.15% of the company’s stock.
AKBA has been the subject of a number of analyst reports. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Thursday, February 28th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Citigroup started coverage on Akebia Therapeutics in a research note on Wednesday, March 20th. They set a “neutral” rating and a $9.00 price objective for the company. JPMorgan Chase & Co. started coverage on Akebia Therapeutics in a research note on Thursday, May 2nd. They set an “overweight” rating and a $12.00 price objective for the company. Finally, BidaskClub raised Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Akebia Therapeutics has a consensus rating of “Hold” and an average price target of $14.03.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). The company had revenue of $72.67 million during the quarter, compared to analysts’ expectations of $83.69 million. Akebia Therapeutics had a negative return on equity of 54.06% and a negative net margin of 82.14%. Analysts expect that Akebia Therapeutics Inc will post -1.42 earnings per share for the current year.
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Akebia Therapeutics Company Profile
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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