Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “
A number of other equities analysts have also weighed in on the company. Mizuho reiterated a “buy” rating and set a $17.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, December 4th. ValuEngine upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, BidaskClub lowered Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.86.
Shares of NASDAQ AKBA traded up $0.28 during trading on Monday, reaching $6.48. 15,990 shares of the company traded hands, compared to its average volume of 676,772. The firm has a market capitalization of $353.34 million, a P/E ratio of -3.66 and a beta of 1.35. Akebia Therapeutics has a 12-month low of $5.20 and a 12-month high of $15.37.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.18. The business had revenue of $53.17 million during the quarter, compared to analyst estimates of $39.71 million. Akebia Therapeutics had a negative return on equity of 45.61% and a negative net margin of 30.29%. Sell-side analysts expect that Akebia Therapeutics will post -1.9 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Akebia Therapeutics by 57.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,812 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,835 shares during the period. Federated Investors Inc. PA grew its position in shares of Akebia Therapeutics by 3,012.7% during the 3rd quarter. Federated Investors Inc. PA now owns 10,054 shares of the biopharmaceutical company’s stock valued at $89,000 after acquiring an additional 9,731 shares during the period. HL Financial Services LLC acquired a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $56,000. Janney Montgomery Scott LLC acquired a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $66,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 71.03% of the company’s stock.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.
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