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

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research note on Tuesday.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $1.89 on Wednesday. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48. The stock has a market cap of $412.36 million, a price-to-earnings ratio of -8.22 and a beta of 0.72. The firm’s 50-day moving average is $1.91 and its 200-day moving average is $1.56.

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 during the quarter, compared to the consensus estimate of $45.66 million. During the same period in the prior year, the company earned ($0.08) EPS. Sell-side 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 institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its stake in Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the third quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $44,000. XTX Topco Ltd bought a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at $58,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Akebia Therapeutics during the 3rd quarter worth $59,000. Institutional investors own 33.92% of the company’s stock.

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.