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

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

Other equities research analysts have also issued reports about the company. HC Wainwright lowered their price target on Akebia Therapeutics from $10.00 to $9.00 and set a buy rating for the company in a research report on Monday. BTIG Research reduced their price objective on Akebia Therapeutics from $26.00 to $6.00 and set a buy rating for the company in a research note on Friday, September 4th. Needham & Company LLC started coverage on Akebia Therapeutics in a research note on Tuesday, August 11th. They issued a buy rating and a $18.00 price objective for the company. JPMorgan Chase & Co. downgraded Akebia Therapeutics from an overweight rating to a neutral rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley reduced their price objective on Akebia Therapeutics from $12.00 to $3.00 and set an equal weight rating for the company in a research note on Friday, September 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $9.75.

Shares of AKBA opened at $2.34 on Wednesday. Akebia Therapeutics has a 52-week low of $2.31 and a 52-week high of $13.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.76 and a current ratio of 2.29. The business’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $8.74. The firm has a market cap of $335.36 million, a PE ratio of -0.78 and a beta of 1.66.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. The company had revenue of $90.14 million for the quarter, compared to analyst estimates of $76.24 million. Akebia Therapeutics had a negative return on equity of 55.64% and a negative net margin of 113.35%. Research analysts predict that Akebia Therapeutics will post -1.5 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC raised its holdings in shares of Akebia Therapeutics by 10.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,245 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 800 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Akebia Therapeutics by 13.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,500 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 1,352 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Akebia Therapeutics by 9.8% in the 1st quarter. Two Sigma Investments LP now owns 19,827 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,777 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at about $25,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 76.75% 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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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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