Akebia Therapeutics (NASDAQ:AKBA) Shares Down 7.5%

Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) fell 7.5% during trading on Friday . The stock traded as low as $7.60 and last traded at $7.93, 1,467,359 shares traded hands during mid-day trading. A decline of 5% from the average session volume of 1,542,479 shares. The stock had previously closed at $8.57.

A number of analysts have weighed in on AKBA shares. ValuEngine downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 18th. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. BidaskClub raised shares of Akebia Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 18th. Needham & Company LLC reduced their price objective 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, Mizuho reiterated a “buy” rating and set a $16.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Akebia Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $12.88.

The company has a market capitalization of $943.19 million, a price-to-earnings ratio of -3.17 and a beta of 1.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 1.34. The business has a 50 day moving average price of $6.79 and a 200-day moving average price of $4.88.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.09). The business had revenue of $91.98 million for the quarter, compared to analyst estimates of $93.94 million. Akebia Therapeutics had a negative return on equity of 32.74% and a negative net margin of 75.39%. As a group, equities analysts predict that Akebia Therapeutics Inc will post -1.44 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in Akebia Therapeutics in the 3rd quarter valued at about $30,000. Stifel Financial Corp bought a new position in Akebia Therapeutics in the third quarter worth approximately $43,000. AQR Capital Management LLC acquired a new stake in Akebia Therapeutics in the second quarter valued at approximately $54,000. Bank of Montreal Can grew its stake in Akebia Therapeutics by 1,478.7% in the second quarter. Bank of Montreal Can now owns 11,856 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 11,105 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Akebia Therapeutics during the fourth quarter valued at approximately $77,000. Institutional investors own 70.43% of the company’s stock.

About Akebia Therapeutics (NASDAQ:AKBA)

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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