Sterling Capital Management LLC Takes Position in Akebia Therapeutics Inc (AKBA)

Sterling Capital Management LLC purchased a new stake in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 42,903 shares of the biopharmaceutical company’s stock, valued at approximately $844,000. Sterling Capital Management LLC owned approximately 0.09% of Akebia Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its holdings in Akebia Therapeutics by 48.2% during the 3rd quarter. Perceptive Advisors LLC now owns 1,630,000 shares of the biopharmaceutical company’s stock valued at $32,062,000 after buying an additional 530,000 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Akebia Therapeutics in the 3rd quarter worth approximately $246,000. Allianz Asset Management GmbH purchased a new position in shares of Akebia Therapeutics in the 3rd quarter worth approximately $933,000. California State Teachers Retirement System boosted its holdings in shares of Akebia Therapeutics by 9.6% in the 3rd quarter. California State Teachers Retirement System now owns 71,586 shares of the biopharmaceutical company’s stock worth $1,408,000 after purchasing an additional 6,244 shares during the period. Finally, OxFORD Asset Management LLP boosted its holdings in shares of Akebia Therapeutics by 196.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 204,460 shares of the biopharmaceutical company’s stock worth $4,004,000 after purchasing an additional 135,460 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Shares of Akebia Therapeutics Inc (AKBA) traded up $0.10 during mid-day trading on Friday, hitting $15.68. The company had a trading volume of 181,973 shares, compared to its average volume of 297,089. Akebia Therapeutics Inc has a 52-week low of $8.58 and a 52-week high of $20.25. The company has a market cap of $741.18, a price-to-earnings ratio of -4.96 and a beta of 0.87.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.07. The firm had revenue of $41.28 million during the quarter, compared to analyst estimates of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. research analysts anticipate that Akebia Therapeutics Inc will post -2.25 EPS for the current year.

A number of equities analysts have recently commented on AKBA shares. ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Royal Bank of Canada reiterated a “hold” rating and issued a $17.00 target price on shares of Akebia Therapeutics in a report on Thursday, November 2nd. Mizuho started coverage on Akebia Therapeutics in a report on Wednesday, October 4th. They issued a “buy” rating and a $24.00 target price for the company. BTIG Research initiated coverage on Akebia Therapeutics in a report on Thursday, December 7th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Akebia Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $22.20.

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Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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