Akebia Therapeutics Inc. (AKBA) Testing Investors’ Patience Right Now


Consonance Capital Management LP recently announced the acquisition of new stake in Akebia Therapeutics Inc. (NASDAQ:AKBA). This fresh investment now brings its stake to 5.04% valued currently at $96.71 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.29 million to 5.69 million shares. And Dimensional Fund Advisors LP has lifted its position by 18.42% or 0.29 million shares – to 1.84 million shares.

With over 0.74 million Akebia Therapeutics Inc. (AKBA) shares trading Friday and a closing price of $12.13 on the day, the dollar volume was approximately $9.02 million. The shares have shown a negative weekly performance of -5.82% and its price on 07/24/20 gained nearly 3.15%. Currently, there are 128.40M common shares owned by the public and among those 104.32M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for AKBA have a consensus price objective of $17.25. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Akebia Therapeutics Inc. stock is 2.10 for the next 12 months. The average price target is 29.23% above its last price level and an upside to the estimated low will see the stock lose -1.08% over that period. But an upside of 53.35% will see the stock hit the forecast high price target while mean target price for the stock is $17.50.

Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 795,100 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 44,579 shares.

The top 3 mutual fund holders in Akebia Therapeutics Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and SPDR S&P Biotech ETF. Vanguard Total Stock Market Index owns 3.81 million shares of the company’s stock, all valued at over $51.68 million. The company sold 48621.0 shares recently to bring their total holdings to about 2.69% of the shares outstanding. iShares Russell 2000 ETF sold 68241.0 shares to see its total holdings shrink to 2.69 million shares valued at over $36.52 million and representing 1.90% of the shares outstanding. SPDR S&P Biotech ETF bought 53492.0 shares to bring its total holdings to over 2.61 million shares at a value of $35.41 million. SPDR S&P Biotech ETF now owns shares totaling to 1.85% of the shares outstanding.

Shares of Akebia Therapeutics Inc. (NASDAQ: AKBA) opened at $11.804, up $0.04 from a prior closing price of $11.76. However, the script later closed the day at $12.13, up 3.15%. The company’s stock has a 5-day price change of -5.82% and 54.72% over the past three months. AKBA shares are trading 91.93% year to date (YTD), with the 12-month market performance up to 211.83% higher. It has a 12-month low price of $2.99 and touched a high of $13.71 over the same period. Currently, 0.74 million shares have been traded, compared to an average intraday trading volume of 1.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.80%, -0.45%, and 49.17% respectively.

Institutional ownership of Akebia Therapeutics Inc. (NASDAQ: AKBA) shares accounts for 67.10% of the company’s 128.40M shares outstanding. Mutual fund holders own 41.26%, while other institutional holders and individual stakeholders account for 8.51% and 23.49% respectively.

It has a market capitalization of $1.75B and a beta (3y monthly) value of 1.45. The earnings-per-share (ttm) stands at -$2.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.19% over the week and 6.18% over the month.

Analysts forecast that Akebia Therapeutics Inc. (AKBA) will achieve an EPS of -$0.5 for the current quarter, -$0.21 for the next quarter and -$0.7 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.74 while analysts give the company a high EPS estimate of -$0.32. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to increase by 4.50%, and 56.00% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Akebia Therapeutics Inc. (AKBA) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the AKBA, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on November 14, 2019, with the firm’s price target at $18-$15. H.C. Wainwright coverage for the Akebia Therapeutics Inc. (AKBA) stock in a research note released on August 06, 2019 offered a Buy rating with a price target of $17. H.C. Wainwright was of a view on July 11, 2019 that the stock is Buy, while JP Morgan gave the stock Overweight rating on May 02, 2019, issuing a price target of $12. Citigroup on their part issued Neutral rating on March 20, 2019.


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