Akebia Therapeutics (AKBA) Earns “Buy” Rating from Mizuho
Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reissued by Mizuho in a note issued to investors on Tuesday. They currently have a $24.00 price target on the biopharmaceutical company’s stock. Mizuho’s price target would suggest a potential upside of 64.84% from the company’s current price.
The analysts wrote, “We had a chance to catch up with CEO John Butler yesterday at the Bio CEO & Investor Conference. We summarize our key takeaways below. Akebia also provided an update on the Vadadustat development program yesterday morning including an expansion of the ongoing phase 2 For2ward and phase 3 Trilo2gy trials in collaboration with Otsuka (TYO:4578, Non rated). While this will delay the timeline for topline data in both programs, we see it as a positive overall as the company will now incorporate additional relevant endpoints with a greater number of patients for better positioning in commercialization. The timeline for data-readouts in the two pivotal Pro2tect and Inno2vate trials remains unchanged.””
AKBA has been the topic of a number of other research reports. Royal Bank of Canada restated a “hold” rating and issued a $17.00 target price on shares of Akebia Therapeutics in a report on Thursday, November 2nd. Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, November 13th. HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Akebia Therapeutics in a report on Wednesday, November 15th. ValuEngine lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BTIG Research initiated coverage on Akebia Therapeutics in a report on Thursday, December 7th. They issued a “buy” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.20.
Hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $159,000. Macquarie Group Ltd. bought a new stake in Akebia Therapeutics during the third quarter worth $183,000. Teacher Retirement System of Texas bought a new stake in Akebia Therapeutics during the fourth quarter worth $188,000. Campbell & CO Investment Adviser LLC bought a new stake in Akebia Therapeutics during the third quarter worth $200,000. Finally, Caxton Associates LP bought a new stake in Akebia Therapeutics during the third quarter worth $246,000. Institutional investors own 62.16% of the company’s stock.
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About Akebia Therapeutics
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
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