Akebia Therapeutics (NASDAQ:AKBA) Upgraded at StockNews.com

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Akebia Therapeutics Trading Down 3.8 %

AKBA stock opened at $1.79 on Tuesday. The company has a market capitalization of $390.54 million, a P/E ratio of -7.78 and a beta of 0.72. The business has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $1.53. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same period last year, the firm earned ($0.08) earnings per share. Research analysts predict that Akebia Therapeutics will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its stake 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 valued at $32,000 after acquiring an additional 9,037 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Akebia Therapeutics during the third quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics during the 2nd quarter worth $44,000. XTX Topco Ltd purchased a new stake in shares of Akebia Therapeutics in the third quarter worth about $58,000. Finally, Intech Investment Management LLC acquired a new stake in Akebia Therapeutics in the third quarter valued at approximately $59,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

About Akebia Therapeutics

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.