Akebia Therapeutics (NASDAQ:AKBA) Upgraded at BidaskClub

BidaskClub upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

A number of other brokerages also recently issued reports on AKBA. Zacks Investment Research upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a report on Friday, July 12th. JPMorgan Chase & Co. initiated coverage on shares of Akebia Therapeutics in a report on Thursday, May 2nd. They issued an overweight rating and a $12.00 price target for the company. Mizuho set a $16.00 price target on shares of Akebia Therapeutics and gave the company a buy rating in a report on Friday, August 9th. HC Wainwright cut their price target on shares of Akebia Therapeutics from $19.00 to $17.00 and set a buy rating for the company in a report on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Akebia Therapeutics currently has a consensus rating of Hold and an average price target of $11.88.

AKBA stock opened at $4.30 on Tuesday. Akebia Therapeutics has a one year low of $3.50 and a one year high of $10.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.15 and a current ratio of 1.70. The company has a fifty day moving average of $4.18 and a 200-day moving average of $5.79.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. The business had revenue of $100.80 million during the quarter, compared to the consensus estimate 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 analysts anticipate that Akebia Therapeutics will post -1.41 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in AKBA. Bank of New York Mellon Corp lifted its position in Akebia Therapeutics by 155.1% in the 4th quarter. Bank of New York Mellon Corp now owns 548,595 shares of the biopharmaceutical company’s stock valued at $3,034,000 after acquiring an additional 333,569 shares in the last quarter. Advisor Group Inc. lifted its position in Akebia Therapeutics by 3,206.3% in the 4th quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 9,619 shares in the last quarter. Northern Trust Corp lifted its position in Akebia Therapeutics by 67.9% in the 4th quarter. Northern Trust Corp now owns 1,065,381 shares of the biopharmaceutical company’s stock valued at $5,892,000 after acquiring an additional 430,985 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Akebia Therapeutics by 107.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 942,599 shares of the biopharmaceutical company’s stock valued at $5,212,000 after acquiring an additional 488,972 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in Akebia Therapeutics during the 4th quarter valued at $61,000. Institutional investors and hedge funds own 70.64% 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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