Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a report released on Monday morning.

Separately, HC Wainwright restated a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd.

Akebia Therapeutics Stock Down 1.5 %

Shares of NASDAQ:AKBA opened at $1.92 on Monday. The firm has a market cap of $418.91 million, a PE ratio of -8.35 and a beta of 0.74. The company’s 50 day moving average price is $1.48 and its two-hundred day moving average price is $1.32. Akebia Therapeutics has a 12-month low of $0.80 and a 12-month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same period in the previous year, the firm earned ($0.08) EPS. On average, research analysts expect that Akebia Therapeutics will post -0.19 EPS for the current year.

Institutional Trading of Akebia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AKBA. Vanguard Group Inc. grew its position in shares of Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock valued at $15,054,000 after buying an additional 618,500 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Akebia Therapeutics in the first quarter valued at approximately $79,000. SG Americas Securities LLC acquired a new stake in Akebia Therapeutics during the 2nd quarter valued at approximately $34,000. Bank of New York Mellon Corp increased its position in Akebia Therapeutics by 3,122.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 585,789 shares during the period. Finally, Rhumbline Advisers raised its holdings in Akebia Therapeutics by 4,915.4% during the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 242,134 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.