StockNews.com Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Sell

StockNews.com cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research report report published on Monday.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd.

Akebia Therapeutics Stock Up 2.6 %

NASDAQ:AKBA opened at $1.99 on Monday. The company has a market capitalization of $418.48 million, a PE ratio of -8.65 and a beta of 0.74. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48. The stock has a fifty day simple moving average of $1.46 and a 200-day simple moving average of $1.31.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities analysts anticipate that Akebia Therapeutics will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AKBA. Mercer Global Advisors Inc. ADV grew its position in shares of Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares during the period. SG Americas Securities LLC acquired a new stake in Akebia Therapeutics in the 2nd quarter worth about $34,000. Empirical Asset Management LLC purchased a new stake in Akebia Therapeutics in the 3rd quarter valued at about $44,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the 2nd quarter valued at about $44,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.