Akebia Therapeutics (NASDAQ:AKBA) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a research note published on Friday.

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

Akebia Therapeutics Trading Up 1.6 %

AKBA opened at $1.85 on Friday. The stock has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $1.42. The company has a market cap of $403.63 million, a price-to-earnings ratio of -8.04 and a beta of 0.70. Akebia Therapeutics has a 12-month low of $0.80 and a 12-month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same period last year, the firm earned ($0.08) EPS. On average, analysts predict that Akebia Therapeutics will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Akebia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Akebia Therapeutics by 25.7% in the 3rd quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 13,907 shares in the last quarter. BNP Paribas Financial Markets raised its position in Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 31,137 shares during the last quarter. SG Americas Securities LLC purchased a new position in Akebia Therapeutics in the 2nd quarter worth about $34,000. Finally, Empirical Asset Management LLC purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at about $44,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

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.