Akebia Therapeutics (NASDAQ:AKBA) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Akebia Therapeutics (NASDAQ:AKBA) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

Several other analysts also recently issued reports on the stock. HC Wainwright reissued a buy rating and issued a $16.00 price objective on shares of Akebia Therapeutics in a research note on Wednesday, February 19th. Mizuho reissued a buy rating and issued a $15.00 price objective on shares of Akebia Therapeutics in a research note on Thursday, March 19th. Needham & Company LLC reissued a buy rating and issued a $15.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, March 10th. JPMorgan Chase & Co. raised their price objective on shares of Akebia Therapeutics from $10.00 to $13.00 and gave the stock an overweight rating in a research note on Thursday, February 20th. Finally, Zacks Investment Research raised shares of Akebia Therapeutics from a sell rating to a hold rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $14.75.

Shares of Akebia Therapeutics stock traded up $0.41 during trading on Tuesday, reaching $7.65. 1,533,682 shares of the stock traded hands, compared to its average volume of 1,562,386. The company has a market capitalization of $940.19 million, a price-to-earnings ratio of -3.24 and a beta of 1.39. The business has a fifty day simple moving average of $8.08 and a two-hundred day simple moving average of $6.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.49 and a quick ratio of 0.93. Akebia Therapeutics has a 52-week low of $2.99 and a 52-week high of $10.53.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.32). The business had revenue of $69.56 million during the quarter, compared to the consensus estimate of $95.40 million. Akebia Therapeutics had a negative net margin of 83.48% and a negative return on equity of 39.65%. On average, research analysts predict that Akebia Therapeutics will post -1.69 earnings per share for the current fiscal year.

In other news, COO Michel Dahan sold 6,972 shares of Akebia Therapeutics stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.70, for a total transaction of $60,656.40. Following the completion of the sale, the chief operating officer now owns 211,932 shares of the company’s stock, valued at $1,843,808.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nicole R. Hadas sold 7,050 shares of Akebia Therapeutics stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.70, for a total transaction of $61,335.00. The disclosure for this sale can be found here. Insiders have sold 20,998 shares of company stock valued at $182,683 in the last ninety days. Insiders own 2.66% of the company’s stock.

Several institutional investors have recently bought and sold shares of AKBA. Advisory Services Network LLC purchased a new position in Akebia Therapeutics during the fourth quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new position in Akebia Therapeutics during the fourth quarter valued at approximately $27,000. Great West Life Assurance Co. Can purchased a new position in Akebia Therapeutics during the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new position in Akebia Therapeutics during the third quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. increased its holdings in Akebia Therapeutics by 230.8% during the fourth quarter. Meeder Asset Management Inc. now owns 4,741 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 3,308 shares during the period. 64.44% of the stock is owned by hedge funds and other institutional investors.

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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