Akebia Therapeutics (NASDAQ:AKBA) Downgraded by ValuEngine to Sell

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

AKBA has been the subject of a number of other reports. Mizuho reiterated a buy rating and issued a $16.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, November 19th. BidaskClub raised shares of Akebia Therapeutics from a hold rating to a buy rating in a research report on Wednesday, December 18th. Needham & Company LLC cut their price target on shares of Akebia Therapeutics from $18.00 to $15.00 and set a buy rating on the stock in a research note on Thursday, November 14th. Finally, Zacks Investment Research raised shares of Akebia Therapeutics from a sell rating to a hold rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $12.88.

Akebia Therapeutics stock traded up $0.25 during midday trading on Friday, reaching $8.03. The company’s stock had a trading volume of 1,765,151 shares, compared to its average volume of 1,187,369. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $6.50 and its 200-day simple moving average is $4.76. Akebia Therapeutics has a 52-week low of $2.99 and a 52-week high of $9.30.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.09). Akebia Therapeutics had a negative return on equity of 32.74% and a negative net margin of 75.39%. The business had revenue of $91.98 million for the quarter, compared to analysts’ expectations of $93.94 million. On average, research analysts anticipate that Akebia Therapeutics will post -1.44 EPS for the current fiscal year.

In other Akebia Therapeutics news, CEO John P. Butler acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $3.44 per share, for a total transaction of $172,000.00. Following the purchase, the chief executive officer now owns 63,700 shares in the company, valued at approximately $219,128. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Steven Keith Burke acquired 27,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $3.58 per share, with a total value of $96,660.00. Following the completion of the purchase, the senior vice president now owns 37,000 shares in the company, valued at approximately $132,460. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 82,800 shares of company stock worth $288,554. Company insiders own 2.66% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Akebia Therapeutics by 20.6% during the second quarter. BlackRock Inc. now owns 10,227,690 shares of the biopharmaceutical company’s stock worth $49,501,000 after purchasing an additional 1,745,307 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Akebia Therapeutics during the second quarter valued at $7,885,000. Point72 Asset Management L.P. lifted its position in Akebia Therapeutics by 1,523.4% during the second quarter. Point72 Asset Management L.P. now owns 1,623,400 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 1,523,400 shares during the period. Man Group plc boosted its holdings in Akebia Therapeutics by 58.8% in the second quarter. Man Group plc now owns 934,650 shares of the biopharmaceutical company’s stock valued at $4,524,000 after purchasing an additional 346,242 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Akebia Therapeutics by 49.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 526,592 shares of the biopharmaceutical company’s stock valued at $2,549,000 after purchasing an additional 174,805 shares during the last quarter. Hedge funds and other institutional investors own 70.41% 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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