Akebia Therapeutics (NASDAQ:AKBA) Rating Increased to Hold at StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.87 on Tuesday. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The firm has a market capitalization of $408.00 million, a P/E ratio of -8.13 and a beta of 0.72. The stock’s fifty day moving average is $1.90 and its two-hundred day moving average is $1.52.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, sell-side analysts forecast that Akebia Therapeutics will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Akebia Therapeutics

Several large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV boosted its position in shares of Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 9,037 shares during the period. Empirical Asset Management LLC acquired a new position in Akebia Therapeutics in the 3rd quarter valued at about $44,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Akebia Therapeutics during the second quarter worth about $44,000. XTX Topco Ltd acquired a new stake in Akebia Therapeutics during the 3rd quarter worth approximately $58,000. Finally, Intech Investment Management LLC purchased a new position in Akebia Therapeutics in the third quarter valued at $59,000. 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.