Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock Now Rated “Hold” by Wall Street Analysts

Akebia Therapeutics, Inc. (NASDAQ:AKBA) has received an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $3.90.

A number of analysts recently issued reports on the stock. Westpark Capital assumed coverage on shares of Akebia Therapeutics in a report on Tuesday, September 8th. They set a “buy” rating and a $4.50 price objective for the company. Leerink Partners cut shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 target price on the stock. in a research note on Friday, August 7th. Wall Street Zen raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Akebia Therapeutics in a research report on Tuesday, September 15th. Finally, HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th.

Hedge Funds Weigh In On Akebia Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new stake in Akebia Therapeutics in the 2nd quarter valued at about $2,280,000. BlackRock Inc. purchased a new stake in Akebia Therapeutics during the second quarter valued at about $22,784,000. Bank of New York Mellon Corp bought a new position in Akebia Therapeutics during the second quarter worth about $706,000. Canada Pension Plan Investment Board bought a new position in Akebia Therapeutics during the second quarter worth about $369,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Akebia Therapeutics in the second quarter worth about $26,000. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Stock Down 5.7%

Shares of NASDAQ:AKBA opened at $0.40 on Friday. The company has a market capitalization of $111.20 million, a PE ratio of -2.51 and a beta of 0.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.43 and a quick ratio of 1.35. The business has a fifty day moving average price of $0.81 and a two-hundred day moving average price of $1.13. Akebia Therapeutics has a 1 year low of $0.36 and a 1 year high of $2.07.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $46.94 million. Akebia Therapeutics had a negative return on equity of 145.58% and a negative net margin of 22.60%. Analysts forecast that Akebia Therapeutics will post -0.14 earnings per share for the current year.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism.

Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.