Zacks Investment Research lowered shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research note issued to investors on Thursday, March 15th.
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 company. ValuEngine lowered Akebia Therapeutics from a hold rating to a sell rating in a research report on Friday, December 1st. BTIG Research assumed coverage on Akebia Therapeutics in a research report on Thursday, December 7th. They set a buy rating and a $30.00 price target on the stock. Piper Jaffray initiated coverage on Akebia Therapeutics in a research note on Monday, December 18th. They set an overweight rating and a $26.00 target price for the company. Mizuho restated a buy rating and issued a $24.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, February 13th. Finally, BidaskClub downgraded Akebia Therapeutics from a hold rating to a sell rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Akebia Therapeutics has a consensus rating of Buy and an average price target of $22.20.
Akebia Therapeutics stock opened at $9.54 on Thursday. The stock has a market capitalization of $554.39, a P/E ratio of -5.39 and a beta of 1.09. Akebia Therapeutics has a 12-month low of $9.00 and a 12-month high of $20.25.
Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Monday, March 12th. The biopharmaceutical company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.61. The firm had revenue of $87.32 million for 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%. equities analysts forecast that Akebia Therapeutics will post -2.63 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new position in Akebia Therapeutics in the 3rd quarter worth about $183,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at about $200,000. Caxton Associates LP bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at about $246,000. Teacher Retirement System of Texas bought a new stake in shares of Akebia Therapeutics in the 4th quarter valued at about $188,000. Finally, Trexquant Investment LP bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at about $346,000. 69.64% of the stock is owned by institutional investors and hedge funds.
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Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.
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