Akebia Therapeutics (NASDAQ:AKBA) Rating Lowered to Sell at StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

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

Akebia Therapeutics Stock Up 1.7 %

NASDAQ AKBA traded up $0.03 on Thursday, hitting $1.82. 1,435,251 shares of the stock were exchanged, compared to its average volume of 3,083,659. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The company has a 50-day moving average price of $1.53 and a 200-day moving average price of $1.34. The company has a market cap of $397.09 million, a PE ratio of -7.91 and a beta of 0.74.

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

Institutional Investors Weigh In On Akebia Therapeutics

A number of large investors have recently added to or reduced their stakes in AKBA. Mercer Global Advisors Inc. ADV raised its holdings in shares of Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares during the last quarter. MetLife Investment Management LLC raised its stake in Akebia Therapeutics by 25.7% in the 3rd quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 13,907 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Akebia Therapeutics during the 2nd quarter worth about $34,000. Finally, Empirical Asset Management LLC purchased a new stake in shares of Akebia Therapeutics during the third quarter worth about $44,000. 33.92% of the stock is 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.