Needham slashes price target on Akebia Therapeutics Inc. [AKBA] – find out why.

Akebia Therapeutics Inc. [NASDAQ: AKBA] stock went on a downward path that fall over -10.69% on Monday, amounting to a one-week price decrease of less than -23.24%. The company report on October 26, 2020 that Akebia Therapeutics to Report Third Quarter 2020 Financial Results and Discuss Recent Business Highlights.

Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced plans to release its financial results for the third quarter ended September 30, 2020, on Thursday, November 5, 2020 before the opening of the financial markets.

Akebia will host a conference call at 9:00 a.m. Eastern Time on Thursday, November 5, 2020 to discuss its third quarter financial results and recent business highlights. To listen to the conference call, please dial (877) 458-0977 (domestic) or (484) 653-6724 (international) using conference ID number 2860285. The call will also be webcast LIVE and can be accessed via the Investors section of the Company’s website at http://ir.akebia.com.

Over the last 12 months, AKBA stock dropped by -29.35%. The average equity rating for AKBA stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $413.76 million, with 136.91 million shares outstanding and 134.72 million shares in the current float. Compared to the average trading volume of 6.54M shares, AKBA stock reached a trading volume of 10630299 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Akebia Therapeutics Inc. [AKBA]:

Needham have made an estimate for Akebia Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 14, 2019. While these analysts kept the previous recommendation, H.C. Wainwright dropped their target price from $19 to $17. The new note on the price target was released on August 06, 2019, representing the official price target for Akebia Therapeutics Inc. stock. Previously, the target price had yet another drop from $23 to $21, while H.C. Wainwright kept a Buy rating on AKBA stock.

The Average True Range (ATR) for Akebia Therapeutics Inc. is set at 0.35, with the Price to Sales ratio for AKBA stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 2.03.

AKBA Stock Performance Analysis:

Akebia Therapeutics Inc. [AKBA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.24. With this latest performance, AKBA shares gained by 14.52% in over the last four-week period, additionally sinking by -64.68% over the last 6 months – not to mention a drop of -29.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AKBA stock in for the last two-week period is set at 27.31, with the RSI for the last a single of trading hit 31.99, and the three-weeks RSI is set at 32.35 for Akebia Therapeutics Inc. [AKBA]. The present Moving Average for the last 50 days of trading for this stock 4.80, while it was recorded at 3.23 for the last single week of trading, and 8.53 for the last 200 days.

Insight into Akebia Therapeutics Inc. Fundamentals:

Akebia Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.30.

AKBA Stock EPS

With the latest financial reports released by the company, Akebia Therapeutics Inc. posted -0.46/share EPS, while the average EPS was predicted by analysts to be reported at -0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AKBA.

Akebia Therapeutics Inc. [AKBA] Insider Position Details

There are presently around $310 million, or 76.40% of AKBA stock, in the hands of institutional investors. The top three institutional holders of AKBA stocks are: BAUPOST GROUP LLC/MA with ownership of 15,000,000, which is approximately -14.422% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 11,363,863 shares of the stock with an approximate value of $32.27 million in AKBA stocks shares; and VANGUARD GROUP INC, currently with $20.79 million in AKBA stock with ownership of nearly 24.387% of the company’s market capitalization.

121 institutional holders increased their position in Akebia Therapeutics Inc. [NASDAQ:AKBA] by around 26,367,972 shares. Additionally, 60 investors decreased positions by around 10,779,570 shares, while 22 investors held positions by with 72,106,497 shares. The mentioned changes placed institutional holdings at 109,254,039 shares, according to the latest SEC report filing. AKBA stock had 46 new institutional investments in for a total of 10,372,244 shares, while 17 institutional investors sold positions of 1,952,297 shares during the same period.

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