In a report released yesterday, Kennen MacKay from RBC Capital reiterated a Hold rating on Akebia Therapeutics (NASDAQ: AKBA), with a price target of $13. The company’s shares closed yesterday at $8.22, close to its 52-week low of $7.77.
According to TipRanks.com, MacKay is a 5-star analyst with an average return of 19.3% and a 60.8% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Spark Therapeutics, Seattle Genetics, and Acceleron Pharma.
Currently, the analyst consensus on Akebia Therapeutics is a Strong Buy with an average price target of $21.25.
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Based on Akebia Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $34.07 million. In comparison, last year the company had a GAAP net loss of $21.52 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKBA in relation to earlier this year. Last month, John P. Butler, the CEO & President of AKBA bought 100,000 shares for a total of $47,000.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Akebia Therapeutics, Inc. is a biopharmaceutical company, which engages in the development and commercialization of novel therapeutics for hypoxia-inducible factor. It also involves in the development and commercialization of drugs for the treatment of renal and metabolic disorders.
