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

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

Separately, HC Wainwright reiterated 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 Performance

Shares of NASDAQ:AKBA opened at $1.88 on Thursday. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48. The firm has a fifty day moving average of $1.54 and a 200 day moving average of $1.34. The firm has a market capitalization of $410.18 million, a PE ratio of -7.91 and a beta of 0.74.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results 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 the consensus estimate of $45.66 million. During the same period in the previous year, the business earned ($0.08) EPS. On average, sell-side analysts forecast that Akebia Therapeutics will post -0.24 EPS for the current fiscal year.

Institutional Trading of Akebia Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its position in 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 buying an additional 9,037 shares during the period. MetLife Investment Management LLC boosted its position in Akebia Therapeutics by 25.7% during the third quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 13,907 shares during the period. BNP Paribas Financial Markets boosted its position in Akebia Therapeutics by 205.8% during the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 31,137 shares during the period. SG Americas Securities LLC bought a new position in shares of Akebia Therapeutics during the second quarter valued at about $34,000. Finally, Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics during the third quarter valued at about $44,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

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.