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


Akebia Therapeutics Inc. [NASDAQ: AKBA] loss -3.36% or -0.01 points to close at $0.37 with a heavy trading volume of 8324838 shares. The company report on August 2, 2022 that Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted six newly-hired employees options to purchase an aggregate of 26,000 shares of Akebia’s common stock on July 29, 2022, as inducements material to each such employee entering into employment with Akebia. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.39 per share, which is equal to the closing price of Akebia’s common stock on the grant date. Each stock option vests over four years, with 25% of the shares vesting on the first anniversary of the grant date and the remaining 75% of shares vesting quarterly thereafter, in each case, subject to the new employee’s continued service with Akebia. Each stock option has a 10-year term and is subject to the terms and conditions of Akebia’s inducement award program and a stock option agreement covering the grant.

It opened the trading session at $0.379, the shares rose to $0.39 and dropped to $0.365, the range by which the price of stock traded the whole day. The daily chart for AKBA points out that the company has recorded -81.38% loss over the past six months. However, it is still -23.33% lower than its most recent low trading price.

If we look at the average trading volume of 10.61M shares, AKBA reached to a volume of 8324838 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Akebia Therapeutics Inc. [AKBA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AKBA shares is $1.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AKBA stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Akebia Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 31, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for Akebia Therapeutics Inc. stock. Previously, the target price had yet another drop from $6 to $2, while Mizuho kept a Neutral rating on AKBA stock. On March 31, 2022, analysts decreased their price target for AKBA shares from 10 to 2.

The Average True Range (ATR) for Akebia Therapeutics Inc. is set at 0.04, with the Price to Sales ratio for AKBA stock in the period of the last 12 months amounting to 0.32. The Price to Book ratio for the last quarter was 2.47.

Trading performance analysis for AKBA stock

Akebia Therapeutics Inc. [AKBA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.49. With this latest performance, AKBA shares dropped by -4.73% in over the last four-week period, additionally sinking by -81.38% over the last 6 months – not to mention a drop of -85.75% 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 41.26, with the RSI for the last a single of trading hit 35.05, and the three-weeks RSI is set at 42.29 for Akebia Therapeutics Inc. [AKBA]. The present Moving Average for the last 50 days of trading for this stock 0.3899, while it was recorded at 0.3914 for the last single week of trading, and 1.5694 for the last 200 days.

Akebia Therapeutics Inc. [AKBA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Akebia Therapeutics Inc. [AKBA] shares currently have an operating margin of -124.23 and a Gross Margin at +27.28. Akebia Therapeutics Inc.’s Net Margin is presently recorded at -132.43.

Return on Equity for this stock declined to -174.55, with Return on Assets sitting at -48.36.

Akebia Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

An analysis of insider ownership at Akebia Therapeutics Inc. [AKBA]

There are presently around $30 million, or 49.30% of AKBA stock, in the hands of institutional investors. The top three institutional holders of AKBA stocks are: VANGUARD GROUP INC with ownership of 14,402,988, which is approximately 8.819% of the company’s market cap and around 1.90% of the total institutional ownership; BLACKROCK INC., holding 13,961,540 shares of the stock with an approximate value of $5.18 million in AKBA stocks shares; and STATE STREET CORP, currently with $4.26 million in AKBA stock with ownership of nearly -2.173% of the company’s market capitalization.

Positions in Akebia Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 59 institutional holders increased their position in Akebia Therapeutics Inc. [NASDAQ:AKBA] by around 5,799,059 shares. Additionally, 73 investors decreased positions by around 21,595,061 shares, while 24 investors held positions by with 53,703,509 shares. The mentioned changes placed institutional holdings at 81,097,629 shares, according to the latest SEC report filing. AKBA stock had 21 new institutional investments in for a total of 1,373,478 shares, while 30 institutional investors sold positions of 14,496,646 shares during the same period.