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

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to 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 research analysts have also issued research reports about the stock. Piper Jaffray Companies initiated coverage on shares of Akebia Therapeutics in a research note on Monday, December 18th. They set an “overweight” rating and a $26.00 price objective for the company. BTIG Research began coverage on shares of Akebia Therapeutics in a research note on Thursday, December 7th. They set a “buy” rating and a $30.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and set a $17.00 price target on shares of Akebia Therapeutics in a research note on Thursday, November 2nd. HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. Finally, Mizuho reiterated a “buy” rating and issued a $24.00 price objective on shares of Akebia Therapeutics in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Akebia Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.20.

Shares of Akebia Therapeutics (AKBA) opened at $14.66 on Tuesday. The firm has a market cap of $692.97, a PE ratio of -4.64 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 quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.07. Akebia Therapeutics had a negative net margin of 137.80% and a negative return on equity of 198.85%. The company had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $34.00 million. equities analysts forecast that Akebia Therapeutics will post -2.25 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of AKBA. SG Americas Securities LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $132,000. Macquarie Group Ltd. acquired a new stake in Akebia Therapeutics during the third quarter worth about $183,000. Legal & General Group Plc increased its position in Akebia Therapeutics by 8.0% during the second 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 during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Akebia Therapeutics during the third quarter worth about $200,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $159,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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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).

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