Akebia Therapeutics (NASDAQ:AKBA) Downgraded to “Sell” Rating by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Separately, HC Wainwright reissued a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research note on Tuesday.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $1.93 on Wednesday. The stock’s fifty day moving average is $1.91 and its 200-day moving average is $1.57. Akebia Therapeutics has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a market capitalization of $421.09 million, a PE ratio of -8.39 and a beta of 0.72.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, analysts forecast that Akebia Therapeutics will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Akebia Therapeutics by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 9,662 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Akebia Therapeutics during the 3rd quarter worth $221,000. Barclays PLC raised its position in shares of Akebia Therapeutics by 276.1% during the 3rd quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 200,482 shares during the last quarter. Geode Capital Management LLC increased its holdings in Akebia Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock valued at $6,277,000 after purchasing an additional 218,172 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Akebia Therapeutics during the third quarter worth about $58,000. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

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.