Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
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. “
Several other equities research analysts have also recently issued reports on AKBA. BidaskClub cut Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday. Mizuho reissued a “buy” rating and set a $24.00 target price on shares of Akebia Therapeutics in a research note on Tuesday. ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $24.00 target price on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. Finally, BTIG Research assumed coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They set a “buy” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Akebia Therapeutics presently has an average rating of “Hold” and an average price target of $22.20.
Akebia Therapeutics (AKBA) traded down $0.35 during trading hours on Thursday, hitting $11.91. The company had a trading volume of 458,614 shares, compared to its average volume of 334,575. Akebia Therapeutics has a 12-month low of $8.69 and a 12-month high of $20.25. The firm has a market capitalization of $608.68, a PE ratio of -6.21 and a beta of 0.80.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Monday, March 12th. The biopharmaceutical company reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.36) by $0.61. The firm had revenue of $87.32 million during the quarter, compared to analysts’ expectations of $66.00 million. Akebia Therapeutics had a negative return on equity of 100.28% and a negative net margin of 43.21%. research analysts anticipate that Akebia Therapeutics will post -0.87 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKBA. Carillon Tower Advisers Inc. purchased a new position in shares of Akebia Therapeutics during the fourth quarter worth $30,644,000. Perceptive Advisors LLC boosted its position in shares of Akebia Therapeutics by 48.2% during the third quarter. Perceptive Advisors LLC now owns 1,630,000 shares of the biopharmaceutical company’s stock worth $32,062,000 after buying an additional 530,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of Akebia Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,821,200 shares of the biopharmaceutical company’s stock worth $27,081,000 after buying an additional 400,300 shares during the period. State Street Corp boosted its position in shares of Akebia Therapeutics by 72.9% during the second quarter. State Street Corp now owns 946,888 shares of the biopharmaceutical company’s stock worth $13,604,000 after buying an additional 399,160 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Akebia Therapeutics by 30.7% during the fourth quarter. Millennium Management LLC now owns 1,024,492 shares of the biopharmaceutical company’s stock worth $15,234,000 after buying an additional 240,692 shares during the period. Institutional investors and hedge funds own 71.23% of the company’s stock.
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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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