Akebia Therapeutics (NASDAQ:AKBA) Rating Increased to Hold at StockNews.com

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

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

Akebia Therapeutics Stock Performance

AKBA stock opened at $2.02 on Wednesday. Akebia Therapeutics has a one year low of $0.80 and a one year high of $2.48. The company has a market capitalization of $440.72 million, a PE ratio of -8.78 and a beta of 0.70. The company’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.39.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, research analysts predict that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Akebia Therapeutics in the second quarter worth approximately $34,000. Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics in the third quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Akebia Therapeutics in the second quarter worth approximately $44,000. Finally, XTX Topco Ltd bought a new position in shares of Akebia Therapeutics in the third quarter worth approximately $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.