On March 20, 2014, Akebia held an initial public offering of its stock, offering 5.88 million shares at $17 per share. Then on October 27, 2014, Akebia announced the results of its Phase 2b Study of oral therapy AKB-6548 in non-dialysis patients with anemia related to chronic kidney disease, citing a “higher incidence of serious adverse events (SAEs) reported in the active treatment group versus the placebo group” and “one was considered probably related to active treatment and two were considered possibly related, including one death.” Upon this news, shares of Akebia stock fell from $19.72 per share on October 24, 2014, to $13.97 per share on October 27, 2014.
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Akebia Therapeutics Inc (NASDAQ:AKBA) stock is currently trading 71.91% below its 52-week-high, 3.44% above its 52-week-low. The 1-year stock price history is in the range of $7.27 – $26.77. Akebia Therapeutics Inc (AKBA) has a price to book ratio of 1.54. AKBA stock price has underperformed the Nasdaq by 42.5%. The Therapeutics company is currently valued at $0.14 billion and its share price closed the last trading session at $7.52. The stock has a 50-day moving average of $9.69 and a 200-day moving average of $9.45.
Akebia Therapeutics Inc (AKBA) current short interest stands at 1.44 million shares. It has increased by 7% from the same period of last month. Around 11% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.38 million shares, the number of days required to cover the short positions stand at 3.9 days.
AKBA reported last quarter earnings on August 11. The Therapeutics company announced earnings per share of $-0.4 against a consensus Street estimate of $0, missing estimate by $0.4.
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There are currently five analysts that cover Akebia Therapeutics Inc stock. Of those five, five have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $19.8.
A recent analyst activity consisted of Morgan Stanley who initiated their coverage on the stock with Equal-weight rating on August 13. Morgan Stanley fixed their price target at $10. This corresponds to a 32.98% upside from the last closing price. On the date of report, the stock closed at $7.52.
JMP Securities initiated their coverage on the stock with Outperform rating on June 22, and fixed their price target at $24. This corresponds to a 219.15% upside from the last closing price. On the date of report, the stock closed at $9.58.
Another research firm was Brean Capital who initiated their coverage on the stock with Buy rating on May 14. Brean Capital fixed their price target at $18. This translates to a 139.36% upside from the last closing price. On the date of report, the stock closed at $8.05.
Akebia Therapeutics, Inc. manufactures biopharmaceutical products. The Company develop and distributes novel therapeutics based on the biology of hypoxia inducible factor (HIF) for patients with kidney diseases. Akebia Therapeutics serves customers in the United States.