Wall Street Zen cut shares of Akebia Therapeutics (NASDAQ:AKBA – Free Report) from a hold rating to a sell rating in a report released on Monday,Wall Street Zen reports.
A number of other analysts also recently issued reports on AKBA. Westpark Capital initiated coverage on Akebia Therapeutics in a research report on Tuesday, September 8th. They set a “buy” rating and a $4.50 price objective for the company. Leerink Partners cut shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 target price on the stock. in a research report on Friday, August 7th. Weiss Ratings lowered shares of Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th. Finally, BTIG Research reiterated a “buy” rating and set a $4.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Akebia Therapeutics has an average rating of “Hold” and a consensus price target of $3.90.
Read Our Latest Report on Akebia Therapeutics
Akebia Therapeutics Trading Up 5.9%
AKBA stock opened at $0.57 on Monday. The business has a fifty day moving average of $0.79 and a two-hundred day moving average of $1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.35. Akebia Therapeutics has a 52-week low of $0.36 and a 52-week high of $1.89.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last posted its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Akebia Therapeutics had a negative return on equity of 156.59% and a negative net margin of 22.60%. The company had revenue of $36.90 million for the quarter, compared to the consensus estimate of $46.94 million. Analysts predict that Akebia Therapeutics will post -0.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Akebia Therapeutics during the second quarter worth $22,784,000. Bank of America Corp DE raised its holdings in shares of Akebia Therapeutics by 22.4% in the 1st quarter. Bank of America Corp DE now owns 2,763,362 shares of the biopharmaceutical company’s stock valued at $3,841,000 after buying an additional 505,951 shares during the period. Nantahala Capital Management LLC purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at $2,280,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Akebia Therapeutics by 32.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 839,729 shares of the biopharmaceutical company’s stock valued at $957,000 after buying an additional 206,476 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Akebia Therapeutics during the 2nd quarter worth about $706,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.
About Akebia Therapeutics
Akebia Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism. Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.
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