Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research note published on Monday,Wall Street Zen reports.

Several other analysts have also commented on the stock. Westpark Capital assumed coverage on shares of Akebia Therapeutics in a research report on Tuesday, September 8th. They set a “buy” rating and a $4.50 price target on the stock. HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a research report on Thursday, August 6th. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, September 15th. Weiss Ratings cut Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Finally, Leerink Partners downgraded Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 target price on the stock. in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Akebia Therapeutics presently has an average rating of “Hold” and a consensus target price of $3.90.

Akebia Therapeutics Stock Up 32.8%

Akebia Therapeutics stock opened at $0.53 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.35 and a current ratio of 1.43. The company has a 50-day moving average price of $0.81 and a 200 day moving average price of $1.12. Akebia Therapeutics has a 12-month low of $0.36 and a 12-month high of $1.89.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. The company had revenue of $36.90 million for the quarter, compared to analyst estimates of $46.94 million. As a group, analysts expect that Akebia Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Akebia Therapeutics in the 2nd quarter valued at approximately $22,784,000. Nantahala Capital Management LLC acquired a new position in shares of Akebia Therapeutics in the second quarter worth $2,280,000. Bank of New York Mellon Corp purchased a new stake in shares of Akebia Therapeutics during the second quarter worth $706,000. Bank of America Corp DE increased its position in shares of Akebia Therapeutics by 22.4% during the first quarter. Bank of America Corp DE now owns 2,763,362 shares of the biopharmaceutical company’s stock worth $3,841,000 after acquiring an additional 505,951 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Akebia Therapeutics during the second quarter worth $369,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

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.