Zacks Investment Research upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.
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 research firms have also recently issued reports on AKBA. JPMorgan Chase & Co. set a €28.20 ($32.79) target price on shares of AXA and gave the stock a buy rating in a research note on Thursday, May 2nd. BidaskClub cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 9th. HC Wainwright set a $4.00 target price on shares of BioTime and gave the stock a buy rating in a research note on Thursday, July 11th. ValuEngine upgraded shares of China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, Citigroup initiated coverage on shares of Akebia Therapeutics in a research note on Wednesday, March 20th. They issued a neutral rating and a $9.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $13.92.
NASDAQ AKBA opened at $4.27 on Friday. Akebia Therapeutics has a 1 year low of $4.08 and a 1 year high of $10.73. The company has a quick ratio of 1.15, a current ratio of 1.71 and a debt-to-equity ratio of 0.06. The stock has a market cap of $495.60 million, a PE ratio of -1.75 and a beta of 1.49. The business has a 50 day moving average price of $4.44.
Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). Akebia Therapeutics had a negative return on equity of 45.06% and a negative net margin of 82.14%. The firm had revenue of $72.67 million during the quarter, compared to analysts’ expectations of $83.69 million. On average, analysts forecast that Akebia Therapeutics will post -1.39 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its stake in Akebia Therapeutics by 168.4% in the fourth quarter. Rhumbline Advisers now owns 121,397 shares of the biopharmaceutical company’s stock valued at $671,000 after purchasing an additional 76,163 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Akebia Therapeutics by 36.3% during the 4th quarter. Prudential Financial Inc. now owns 25,033 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 6,673 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Akebia Therapeutics by 81.4% during the 4th quarter. California Public Employees Retirement System now owns 114,313 shares of the biopharmaceutical company’s stock worth $632,000 after acquiring an additional 51,287 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Akebia Therapeutics by 71.6% during the 4th quarter. New York State Common Retirement Fund now owns 80,302 shares of the biopharmaceutical company’s stock worth $444,000 after acquiring an additional 33,502 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Akebia Therapeutics by 57.5% during the 4th quarter. BlackRock Inc. now owns 8,296,503 shares of the biopharmaceutical company’s stock worth $45,881,000 after acquiring an additional 3,027,657 shares in the last quarter. 70.50% of the stock is owned by institutional investors and hedge funds.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.
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