In a report released today, Difei Yang from Mizuho Securities reiterated a Buy rating on Akebia Therapeutics (AKBA), with a price target of $6.00. The company’s shares closed last Monday at $2.95, close to its 52-week low of $2.09.
According to TipRanks.com, Yang has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -7.2% and a 32.2% success rate. Yang covers the Healthcare sector, focusing on stocks such as Freeline Therapeutics Holdings, Xeris Pharmaceuticals, and Magenta Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Akebia Therapeutics with a $7.60 average price target, a 149.2% upside from current levels. In a report released today, Needham also maintained a Buy rating on the stock with a $10.00 price target.
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Based on Akebia Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $56.7 million and GAAP net loss of $87 million. In comparison, last year the company earned revenue of $69.56 million and had a GAAP net loss of $94.48 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AKBA in relation to earlier this year.
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Akebia Therapeutics, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney disease. The firm also involves in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat. The company was founded by Joseph H. Gardner, John M. Rice, Michael E. Pape, Josh P. Fairbank, and Robert A. Shalwitz on February 27, 2007 and is headquartered in Cambridge, MA.
