Akebia Therapeutics (NASDAQ:AKBA) Now Covered by StockNews.com

StockNews.com began coverage on shares of Akebia Therapeutics (NASDAQ:AKBAGet Rating) in a report released on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on the company. Cantor Fitzgerald lowered Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, April 1st. Mizuho lowered Akebia Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $6.00 to $2.00 in a research report on Thursday, March 31st. BTIG Research lowered Akebia Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, March 31st. Needham & Company LLC lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 31st. Finally, Piper Sandler lowered Akebia Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $8.00 to $2.00 in a research report on Wednesday, March 30th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.31.

Shares of NASDAQ AKBA opened at $0.48 on Thursday. The stock has a market capitalization of $83.98 million, a price-to-earnings ratio of -0.28 and a beta of 1.35. Akebia Therapeutics has a 12 month low of $0.46 and a 12 month high of $4.33. The firm’s 50 day simple moving average is $1.74 and its 200-day simple moving average is $2.25.

Akebia Therapeutics (NASDAQ:AKBAGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The biopharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.07). The firm had revenue of $59.61 million for the quarter, compared to analyst estimates of $48.22 million. Akebia Therapeutics had a negative return on equity of 187.89% and a negative net margin of 132.43%. During the same period in the previous year, the business earned ($0.60) EPS. On average, equities analysts forecast that Akebia Therapeutics will post -0.66 EPS for the current year.

In other Akebia Therapeutics news, CEO John P. Butler sold 25,053 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $2.15, for a total value of $53,863.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 43,757 shares of company stock worth $94,094 in the last 90 days. 2.54% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in shares of Akebia Therapeutics during the 4th quarter worth $30,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Akebia Therapeutics during the 4th quarter worth $33,000. Janus Henderson Group PLC purchased a new position in shares of Akebia Therapeutics during the 3rd quarter worth $42,000. Mackenzie Financial Corp purchased a new position in shares of Akebia Therapeutics during the 4th quarter worth $48,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Akebia Therapeutics during the 4th quarter worth $59,000. Institutional investors own 56.27% of the company’s stock.

Akebia Therapeutics Company Profile (Get Rating)

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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

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