Zacks Investment Research Lowers Akebia Therapeutics (NASDAQ:AKBA) to Sell

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also issued reports on AKBA. BidaskClub lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. Mizuho set a $16.00 price objective on Akebia Therapeutics and gave the company a “buy” rating in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Akebia Therapeutics in a report on Monday, September 9th. Finally, ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.45.

NASDAQ:AKBA traded down $0.05 during mid-day trading on Wednesday, hitting $4.07. 35,254 shares of the company’s stock traded hands, compared to its average volume of 1,067,744. The company has a fifty day moving average of $4.33 and a 200 day moving average of $5.11. Akebia Therapeutics has a twelve month low of $3.50 and a twelve month high of $10.45. The company has a market capitalization of $494.47 million, a P/E ratio of -1.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.70.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. Akebia Therapeutics had a negative return on equity of 36.92% and a negative net margin of 75.64%. The company had revenue of $100.80 million for the quarter, compared to analyst estimates of $88.35 million. On average, research analysts expect that Akebia Therapeutics will post -1.41 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Aperio Group LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $31,000. Wedbush Securities Inc. acquired a new stake in Akebia Therapeutics during the second quarter worth about $52,000. AQR Capital Management LLC acquired a new stake in Akebia Therapeutics during the second quarter worth about $54,000. Bank of Montreal Can grew its holdings in Akebia Therapeutics by 1,478.7% during the second quarter. Bank of Montreal Can now owns 11,856 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 11,105 shares during the period. Finally, M&T Bank Corp grew its holdings in Akebia Therapeutics by 24.9% during the second quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 2,894 shares during the period. 71.86% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

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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