why Akebia Therapeutics Inc. [AKBA] is a Good Choice for Investors After New Price Target of $5.00

Akebia Therapeutics Inc. [NASDAQ: AKBA] slipped around -0.41 points on Thursday, while shares priced at $1.83 at the close of the session, down -18.30%. The company report on March 27, 2024 at 8:26 PM that Akebia Receives FDA Approval of Vafseo® (vadadustat) Tablets for the Treatment of Anemia due to Chronic Kidney Disease in Adult Patients on Dialysis.

Once-Daily Oral HIF-PH Inhibitor Activates Physiologic Response to Manage Anemia .

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Compared to the average trading volume of 3.24M shares, AKBA reached a trading volume of 60761581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $5.00 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 0.22, with the Price to Sales ratio for AKBA stock in the period of the last 12 months amounting to 1.97.

How has AKBA stock performed recently?

Akebia Therapeutics Inc. [AKBA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.29. With this latest performance, AKBA shares gained by 18.83% in over the last four-week period, additionally plugging by 59.13% over the last 6 months – not to mention a rise of 205.36% 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 52.17, with the RSI for the last a single of trading hit 49.21, and the three-weeks RSI is set at 53.54 for Akebia Therapeutics Inc. [AKBA]. The present Moving Average for the last 50 days of trading for this stock 1.6240, while it was recorded at 2.0900 for the last single week of trading, and 1.2814 for the last 200 days.

Akebia Therapeutics Inc. [AKBA]: Deeper insight into the fundamentals

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.

Earnings analysis for Akebia Therapeutics Inc. [AKBA]

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.

Insider trade positions for 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%.