Akebia Therapeutics (NASDAQ:AKBA) Cut to Sell at StockNews.com

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

Akebia Therapeutics Trading Up 3.3 %

Shares of Akebia Therapeutics stock opened at $1.88 on Thursday. The firm’s 50 day moving average is $1.55 and its 200 day moving average is $1.34. The firm has a market capitalization of $410.18 million, a PE ratio of -8.17 and a beta of 0.74. Akebia Therapeutics has a 1 year low of $0.80 and a 1 year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data 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 company had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, research analysts anticipate that Akebia Therapeutics will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Akebia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AKBA. Mercer Global Advisors Inc. ADV boosted its position in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,037 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Akebia Therapeutics during the second quarter worth approximately $34,000. Empirical Asset Management LLC bought a new stake in Akebia Therapeutics in the third quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics in the second quarter valued at approximately $44,000. Finally, XTX Topco Ltd bought a new position in shares of Akebia Therapeutics during the 3rd quarter worth approximately $58,000. 33.92% of the stock is owned by institutional investors and hedge funds.

About Akebia Therapeutics

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.