The stock of Akebia Therapeutics, Inc. (NASDAQ:AKBA) is now priced at $9.95 and the shares are -0.46 points down or -4.42% lower compared to its previous closing price of $10.41. The stock had 1.257 million contracts set over the past session. AKBA shares’ daily volume is compared to its average trading volume at 1.277 million shares. However, it has a float of 135 million and although its performance was -2.16% over the week, it’s one to watch. Analysts have given the AKBA stock a yearly average price target of $17.14 per share. It means the stock’s upside potential is 72.26% with the AKBA share price recently placing at $9.775 to $10.58. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Akebia Therapeutics, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AKBA shares have declined. Short interest in the stock represents just 6.73% of its float, but the volume has dropped by -505715. The volume of shorted shares dropped to 9.066 million from 9.572 million shares over the last two weeks. The average intraday trading volume has been 954760 shares, which means that days to cover moved to roughly 9.495374.
In the last trading session, Akebia Therapeutics, Inc. (NASDAQ:AKBA) dropped by -$0.22 over the week and lost -$0.99 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.71. The stock recorded its established 52-week high on 07/07/20.
Since 11/13/19, the stock has traded to a low of $2.99 at 232.78%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.18. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Akebia Therapeutics, Inc.’s two-week RSI is 38.14. This suggests that the stock is neutral at the moment and that AKBA shares’ price movement remains stable. The stochastic readings are equally revealing at 39.67% meaning the AKBA share price is currently in neutral territory.
The technical chart shows that the AKBA stock will likely settle at between $10.43 and $10.91 per share. However, if the stock dips below $9.62, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.3.
Currently, the stock is trading in the green of MACD, with a reading of 0.04. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham though dropped target price of AKBA stock from $18 to $15 but maintained Buy recommendation in their November 14 review. H.C. Wainwright analysts see the stock as a Buy, but they also dropped the share’s target price from $19 to $17 in a flash note released to investors on August 06. H.C. Wainwright analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on July 11, placing it at $21 from $23.
The average rating for the AKBA equity is 2.13 and is currently gathering a bullish momentum. Of 8 analysts tracking Akebia Therapeutics, Inc. polled by Reuters, 2 rated AKBA as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Akebia Therapeutics, Inc. (NASDAQ:AKBA) will decrease by about -99.91%, which will see them reach $76.94 million. The company’s full-year revenues are, however, expected to diminish by about -6.84%, down from $335 million to $312 million. AKBA’s expected adjusted earnings should drop almost -52.17% to end up at -$0.22 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -4.24% to record -$2.26/share.