Akebia Therapeutics (NASDAQ:AKBA) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a report published on Wednesday morning.

Separately, HC Wainwright restated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a report on Tuesday.

Akebia Therapeutics Stock Performance

AKBA opened at $2.07 on Wednesday. The business’s 50 day moving average price is $1.91 and its 200 day moving average price is $1.57. The stock has a market capitalization of $451.63 million, a PE ratio of -9.00 and a beta of 0.72. Akebia Therapeutics has a one year low of $0.80 and a one year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities research analysts forecast that Akebia Therapeutics will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akebia Therapeutics

Several hedge funds have recently bought and sold shares of AKBA. Wellington Management Group LLP purchased a new stake in Akebia Therapeutics during the third quarter worth about $534,000. BNP Paribas Financial Markets increased its stake in Akebia Therapeutics by 205.8% during 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 period. XTX Topco Ltd acquired a new stake in Akebia Therapeutics during the 3rd quarter worth approximately $58,000. Bank of New York Mellon Corp boosted its holdings in Akebia Therapeutics by 3,122.2% in the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 585,789 shares during the period. Finally, State Street Corp boosted its stake in shares of Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after buying an additional 683,287 shares during the period. Institutional investors and hedge funds 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.