Akebia Therapeutics (AKBA) Receives a Buy from Needham


Needham analyst Chad Messer maintained a Buy rating on Akebia Therapeutics (AKBA) today and set a price target of $10.00. The company’s shares closed last Monday at $2.97, close to its 52-week low of $2.09.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 5.9% and a 42.7% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.

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 issued on April 29, Mizuho Securities also maintained a Buy rating on the stock with a $6.00 price target.

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Akebia Therapeutics’ market cap is currently $498.9M and has a P/E ratio of -1.10. The company has a Price to Book ratio of 10.31.

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.

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 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.

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