Akebia Therapeutics (NASDAQ:AKBA) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.
Several other equities analysts have also recently weighed in on the company. Needham & Company LLC assumed coverage on Akebia Therapeutics in a research report on Tuesday, August 11th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine raised Akebia Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a report on Thursday, September 3rd. Mizuho reduced their price objective on shares of Akebia Therapeutics from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, September 4th. Finally, HC Wainwright decreased their target price on shares of Akebia Therapeutics from $17.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $9.88.
NASDAQ AKBA opened at $2.67 on Tuesday. The firm has a market cap of $382.66 million, a P/E ratio of -0.89 and a beta of 1.19. The company has a quick ratio of 1.76, a current ratio of 2.29 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $8.56 and its 200-day moving average is $9.63. Akebia Therapeutics has a 12-month low of $2.46 and a 12-month high of $13.71.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Monday, August 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Akebia Therapeutics had a negative net margin of 113.35% and a negative return on equity of 55.64%. The business had revenue of $90.14 million during the quarter, compared to analyst estimates of $76.24 million. Equities analysts expect that Akebia Therapeutics will post -1.5 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of AKBA. SG Americas Securities LLC increased its stake in shares of Akebia Therapeutics by 38.7% in the 1st quarter. SG Americas Securities LLC now owns 34,870 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 9,734 shares in the last quarter. Aperio Group LLC increased its stake in shares of Akebia Therapeutics by 75.8% in the 1st quarter. Aperio Group LLC now owns 18,231 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 7,863 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Akebia Therapeutics in the 1st quarter valued at about $138,000. New York State Common Retirement Fund increased its stake in shares of Akebia Therapeutics by 7.2% in the 1st quarter. New York State Common Retirement Fund now owns 103,902 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Akebia Therapeutics by 16.7% in the 1st quarter. Rhumbline Advisers now owns 214,691 shares of the biopharmaceutical company’s stock valued at $1,627,000 after purchasing an additional 30,789 shares in the last quarter. 76.75% of the stock is owned by institutional investors.
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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