Akebia Therapeutics (NASDAQ:AKBA) Cut to Hold at Zacks Investment Research

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 2nd.

According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Other equities research analysts have also issued reports about the company. Piper Jaffray Companies assumed coverage on Akebia Therapeutics in a research report on Monday, December 18th. They issued an “overweight” rating and a $26.00 target price on the stock. Royal Bank of Canada began coverage on Akebia Therapeutics in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $24.00 price target on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. Mizuho reissued a “buy” rating and issued a $24.00 price target on shares of Akebia Therapeutics in a research note on Thursday, November 9th. Finally, BTIG Research began coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They issued a “buy” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.20.

Akebia Therapeutics (NASDAQ AKBA) opened at $15.25 on Tuesday. The firm has a market capitalization of $720.85, a P/E ratio of -4.83 and a beta of 0.87. Akebia Therapeutics has a fifty-two week low of $8.58 and a fifty-two week high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.07. The company had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. analysts forecast that Akebia Therapeutics will post -2.25 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in AKBA. SG Americas Securities LLC purchased a new stake in shares of Akebia Therapeutics during the 2nd quarter worth about $132,000. Legal & General Group Plc raised its stake in shares of Akebia Therapeutics by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 714 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Akebia Therapeutics during the 2nd quarter worth about $159,000. Macquarie Group Ltd. purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter worth about $183,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter worth about $200,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Akebia Therapeutics (NASDAQ:AKBA) Cut to Hold at Zacks Investment Research” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/01/11/akebia-therapeutics-akba-rating-lowered-to-hold-at-zacks-investment-research.html.

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).

Get a free copy of the Zacks research report on Akebia Therapeutics (AKBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply