Everyone loves payday. Just like everyone else, once I get that sweet deposit in the bank it starts burning a hole in my pocket. Before much time I am ready to blow it all on a shopping spree. My store of choice is the stock market, and I’m shopping for the best deals on companies. Here is what I dropped my $1,000 on this Friday, September 28th.
Akebia Therapeutics Inc. (AKBA)
The twentieth pick of the Let’s Be Millionaires investment series goes to Akebia Therapeutics Inc.
Akebia Therapeutics is a clinical stage biotech company aiming to develop therapeutic solutions for diseases such as anemia. The company was founded in 2007 and is focused around something called the “hypoxia inducible factor.” This is the same factor that helps your body to adapt to altitude and Akebia thinks that it holds the key to treating some pretty serious diseases.
Check out this video to learn more.
Check out the Akebia Therapeutics website here.
About The Stock
AKBA stock went public in early 2014 for around $20. The stock initially rallied up to an all time high of close to $30 in June of 2014 before entering a downtrend and falling all the way to an all time low of around $6.50 in August of 2015. AKBA stock stayed mostly within a range of 7 to 11 dollars between 2015 and early 2017 before breaking out on a run back to $20 a share. This top was hit almost exactly a year ago in late September of 2017. Since then the stock has tanked back down into its former range and now sits at around $8.90 per share. I am happy to accumulate shares here while AKBA tries to find its legs again.
The company currently has negative earnings and therefor no positive P/E ratio. The current market cap is around 470 Million dollars.
This stock can be categorized as a domestic, small-cap, biotech, high-growth stock.
The timeline for Akebia’s studies has me thinking that the stock is going to see a lot of action over the next 1-2 years and I think it will be good action.
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