Akebia Therapeutics (NASDAQ:AKBA) Downgraded by BidaskClub

BidaskClub cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research report report published on Thursday morning, BidAskClub reports.

AKBA has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a research report on Friday, July 12th. HC Wainwright reiterated a buy rating and issued 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 company a buy rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a research 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’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $12.45.

Shares of NASDAQ AKBA opened at $4.51 on Thursday. The firm has a 50-day simple moving average of $4.35 and a 200-day simple moving average of $5.43. The stock has a market capitalization of $537.26 million, a price-to-earnings ratio of -1.85 and a beta of 1.43. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.06. Akebia Therapeutics has a 52 week low of $3.50 and a 52 week high of $10.45.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) 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 analysts’ expectations 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 expect that Akebia Therapeutics will post -1.41 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $31,000. Wedbush Securities Inc. acquired a new stake in Akebia Therapeutics during the second quarter worth about $52,000. AQR Capital Management LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $54,000. Bank of Montreal Can increased its position in Akebia Therapeutics by 1,478.7% during the second quarter. Bank of Montreal Can now owns 11,856 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 11,105 shares during the last quarter. Finally, M&T Bank Corp increased its position in Akebia Therapeutics by 24.9% during the second quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 2,894 shares during the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.

About Akebia Therapeutics

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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