Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

A number of other brokerages have also issued reports on AKBA. HC Wainwright restated a buy rating and set a $17.00 target price on shares of Akebia Therapeutics in a research report on Monday, September 9th. Mizuho set a $16.00 target price on shares of Akebia Therapeutics and gave the stock a buy rating in a research report on Friday, August 9th. BidaskClub lowered shares of Akebia Therapeutics from a hold rating to a sell rating in a research report on Thursday, September 19th. Finally, ValuEngine upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Akebia Therapeutics currently has a consensus rating of Hold and a consensus price target of $12.45.

Shares of AKBA opened at $4.31 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $512.30 million, a PE ratio of -1.77 and a beta of 1.43. The company’s 50 day simple moving average is $4.30 and its 200-day simple moving average is $5.05. Akebia Therapeutics has a 12-month low of $3.50 and a 12-month high of $10.45.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $100.80 million for the quarter, compared to analyst estimates of $88.35 million. Akebia Therapeutics had a negative net margin of 75.64% and a negative return on equity of 36.92%. As a group, equities research analysts forecast that Akebia Therapeutics will post -1.41 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Aperio Group LLC purchased a new position in Akebia Therapeutics in the 2nd quarter valued at $31,000. Wedbush Securities Inc. purchased a new position in Akebia Therapeutics in the 2nd quarter valued at $52,000. AQR Capital Management LLC purchased a new position in Akebia Therapeutics in the 2nd quarter valued at $54,000. Bank of Montreal Can grew its position in Akebia Therapeutics by 1,478.7% in the 2nd quarter. Bank of Montreal Can now owns 11,856 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 11,105 shares during the last quarter. Finally, M&T Bank Corp grew its position in Akebia Therapeutics by 24.9% in the 2nd quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 2,894 shares during the last quarter. Hedge funds and other institutional investors own 71.86% 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. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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