Akebia Therapeutics Inc. [NASDAQ: AKBA] gained 11.18% or 0.19 points to close at $1.89 with a heavy trading volume of 9473963 shares. The company report on March 14, 2024 at 4:15 PM that Akebia Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Business Highlights.
Potential vadadustat U.S. approval on PDUFA date of March 27, 2024.
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Strengthened balance sheet with $55.0 million term loan financing and $26.0 million in proceeds from ATM.
The daily chart for AKBA points out that the company has recorded 50.00% gains over the past six months.
If we look at the average trading volume of 2.41M shares, AKBA reached to a volume of 9473963 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 $4.33 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 1.00. 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.
BTIG Research have made an estimate for Akebia Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 29, 2023. The new note on the price target was released on August 28, 2023, representing the official price target for Akebia Therapeutics Inc. stock. Previously, the target price had yet another raise from $2 to $4, while Piper Sandler kept a Overweight rating on AKBA stock. On March 31, 2022, analysts decreased their price target for AKBA shares from 8 to 2.
The Average True Range (ATR) for Akebia Therapeutics Inc. is set at 0.15, with the Price to Sales ratio for AKBA stock in the period of the last 12 months amounting to 2.03.
Trading performance analysis for AKBA stock
Akebia Therapeutics Inc. [AKBA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.25. With this latest performance, AKBA shares gained by 28.57% in over the last four-week period, additionally plugging by 50.00% over the last 6 months – not to mention a rise of 165.23% 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 67.48, with the RSI for the last a single of trading hit 73.37, and the three-weeks RSI is set at 64.27 for Akebia Therapeutics Inc. [AKBA]. The present Moving Average for the last 50 days of trading for this stock 1.5420, while it was recorded at 1.5580 for the last single week of trading, and 1.2479 for the last 200 days.
Akebia Therapeutics Inc. [AKBA]: A deeper dive into fundamental analysis
Akebia Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.03 and a Current Ratio set at 1.18.
Akebia Therapeutics Inc. [AKBA]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Akebia Therapeutics Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. 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.
An analysis of Institutional ownership at Akebia Therapeutics Inc. [AKBA]
The top three institutional holders of AKBA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AKBA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AKBA stock with ownership which is approximately 5.8325%.
