Akebia Therapeutics (NASDAQ:AKBA) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Akebia Therapeutics (NASDAQ:AKBAGet Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on AKBA. Zacks Investment Research raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, February 28th. Mizuho downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $6.00 to $2.00 in a research note on Thursday, March 31st. BTIG Research downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. Needham & Company LLC downgraded shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. Finally, Cantor Fitzgerald downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Friday, April 1st. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.31.

AKBA opened at $0.42 on Friday. The company has a market capitalization of $73.54 million, a price-to-earnings ratio of -0.25 and a beta of 1.35. Akebia Therapeutics has a 1-year low of $0.40 and a 1-year high of $4.33. The business has a 50 day moving average price of $1.58 and a two-hundred day moving average price of $2.15.

Akebia Therapeutics (NASDAQ:AKBAGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.07). The company had revenue of $59.61 million during the quarter, compared to the consensus estimate of $48.22 million. Akebia Therapeutics had a negative net margin of 132.43% and a negative return on equity of 187.89%. During the same period in the prior year, the company posted ($0.60) EPS. As a group, research analysts predict that Akebia Therapeutics will post -0.66 earnings per share for the current fiscal year.

In other Akebia Therapeutics news, CEO John P. Butler sold 25,053 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $2.15, for a total transaction of $53,863.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 43,757 shares of company stock valued at $94,094 over the last quarter. 2.54% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in AKBA. Assenagon Asset Management S.A. bought a new stake in shares of Akebia Therapeutics in the first quarter valued at about $75,000. Barclays PLC lifted its stake in shares of Akebia Therapeutics by 51.2% in the fourth quarter. Barclays PLC now owns 284,770 shares of the biopharmaceutical company’s stock valued at $643,000 after buying an additional 96,413 shares during the period. BlackRock Inc. lifted its stake in shares of Akebia Therapeutics by 0.5% in the fourth quarter. BlackRock Inc. now owns 14,124,215 shares of the biopharmaceutical company’s stock valued at $31,919,000 after buying an additional 71,728 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Akebia Therapeutics by 138.6% in the fourth quarter. Wells Fargo & Company MN now owns 347,953 shares of the biopharmaceutical company’s stock valued at $787,000 after buying an additional 202,143 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Akebia Therapeutics by 317.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,147,163 shares of the biopharmaceutical company’s stock valued at $4,852,000 after buying an additional 1,632,905 shares during the period. Institutional investors own 56.27% of the company’s stock.

About Akebia Therapeutics (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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