Akebia Therapeutics Inc. [AKBA] stock Reiterated by Needham analyst, price target now $15

Akebia Therapeutics Inc. [NASDAQ: AKBA] stock went on an upward path that rose over 2.36% on Monday, amounting to a one-week price increase of more than 6.12%. The company report on November 16, 2020 that Akebia Announces Manuscript Highlighting Global Phase 3 INNO2VATE Program Rationale, Study Design and Baseline Characteristics Published in Peer-Reviewed Medical Journal.

Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, announced the publication of a manuscript detailing the study design and methodology for its global Phase 3 INNO2VATE program in Nephrology Dialysis Transplantation (NDT), the official journal for the European Renal Association-European Dialysis and Transplant Association (ERA-EDTA). The publication of Akebia’s manuscript in NDT marks the first publication in a peer-reviewed journal related to a global Phase 3 program of an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) being evaluated as a potential treatment for anemia due to chronic kidney disease (CKD).

The manuscript, titled “Global Phase 3 programme of vadadustat for treatment of anaemia of chronic kidney disease: rationale, study design and baseline characteristics of dialysis-dependent patients in the INNO2VATE trials,” includes a detailed description of design and methodology of the two Phase 3 INNO2VATE trials and summarize demographic and baseline characteristics of randomized patients. Importantly, the manuscript notes that “demographics and baseline characteristics of patients enrolled in the two studies are comparable to those typically observed in patients with DD (dialysis dependent)-CKD, suggesting the results of the INNO2VATE studies will be generalizable to a large proportion of the DD-CKD population.”.

Over the last 12 months, AKBA stock dropped by -22.62%. 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 $365.43 million, with 143.32 million shares outstanding and 139.89 million shares in the current float. Compared to the average trading volume of 8.06M shares, AKBA stock reached a trading volume of 3468292 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 0.26, with the Price to Sales ratio for AKBA stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 1.92.

AKBA Stock Performance Analysis:

Akebia Therapeutics Inc. [AKBA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.12. With this latest performance, AKBA shares dropped by -31.22% in over the last four-week period, additionally sinking by -78.13% over the last 6 months – not to mention a drop of -22.62% 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 46.67, with the RSI for the last a single of trading hit 48.73, and the three-weeks RSI is set at 38.06 for Akebia Therapeutics Inc. [AKBA]. The present Moving Average for the last 50 days of trading for this stock 2.76, while it was recorded at 2.55 for the last single week of trading, and 8.13 for the last 200 days.

Insight into Akebia Therapeutics Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Akebia Therapeutics Inc. [AKBA] shares currently have an operating margin of -85.46 and a Gross Margin at +56.61. Akebia Therapeutics Inc.’s Net Margin is presently recorded at -83.48.

Return on Total Capital for AKBA is now -49.62, given the latest momentum, and Return on Invested Capital for the company is -49.32. Return on Equity for this stock declined to -54.27, with Return on Assets sitting at -29.74. When it comes to the capital structure of this company, Akebia Therapeutics Inc. [AKBA] has a Total Debt to Total Equity ratio set at 27.44. Additionally, AKBA Total Debt to Total Capital is recorded at 21.53, with Total Debt to Total Assets ending up at 14.05. Long-Term Debt to Equity for the company is recorded at 26.18, with the Long-Term Debt to Total Capital now at 20.54.

Reflecting on the efficiency of the workforce at the company, Akebia Therapeutics Inc. [AKBA] managed to generate an average of -$776,831 per employee. Receivables Turnover for the company is 12.07 with a Total Asset Turnover recorded at a value of 0.36.Akebia Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.20.

AKBA Stock EPS

With the latest financial reports released by the company, Akebia Therapeutics Inc. posted -0.79/share EPS, while the average EPS was predicted by analysts to be reported at -0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -68.10%. 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 $263 million, or 75.70% of AKBA stock, in the hands of institutional investors. The top three institutional holders of AKBA stocks are: STATE STREET CORP with ownership of 15,340,471, which is approximately 206.073% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 11,744,162 shares of the stock with an approximate value of $30.54 million in AKBA stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $20.61 million in AKBA stock with ownership of nearly 8.938% of the company’s market capitalization.

Positions in Akebia Therapeutics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 99 institutional holders increased their position in Akebia Therapeutics Inc. [NASDAQ:AKBA] by around 34,322,806 shares. Additionally, 95 investors decreased positions by around 44,126,831 shares, while 23 investors held positions by with 22,552,101 shares. The mentioned changes placed institutional holdings at 101,001,738 shares, according to the latest SEC report filing. AKBA stock had 31 new institutional investments in for a total of 10,900,316 shares, while 51 institutional investors sold positions of 35,198,654 shares during the same period.

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