StockNews.com Begins Coverage on Akebia Therapeutics (NASDAQ:AKBA)

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

A number of other brokerages also recently weighed in on AKBA. Needham & Company LLC downgraded shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 31st. Mizuho downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $2.00 in a research report on Thursday, March 31st. Cantor Fitzgerald downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, April 1st. BTIG Research downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, March 31st. Finally, HC Wainwright downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $2.00 in a research report on Thursday, March 31st. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.31.

Shares of NASDAQ AKBA opened at $0.38 on Friday. The firm’s 50 day moving average price is $1.38 and its 200-day moving average price is $2.05. The company has a market cap of $70.64 million, a PE ratio of -0.23 and a beta of 1.56. Akebia Therapeutics has a 52-week low of $0.38 and a 52-week high of $4.33.

Akebia Therapeutics (NASDAQ:AKBAGet Rating) last issued its earnings results on Tuesday, March 1st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.07). The firm had revenue of $59.61 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted ($0.60) EPS. As a group, equities research analysts forecast that Akebia Therapeutics will post -0.66 earnings per share for the current year.

In other Akebia Therapeutics news, CEO John P. Butler sold 25,053 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $2.15, for a total transaction of $53,863.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 43,757 shares of company stock valued at $94,094. 2.54% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Deutsche Bank AG increased its holdings in Akebia Therapeutics by 5.0% during the third quarter. Deutsche Bank AG now owns 115,185 shares of the biopharmaceutical company’s stock valued at $332,000 after buying an additional 5,456 shares during the last quarter. American International Group Inc. increased its stake in shares of Akebia Therapeutics by 6.6% in the third quarter. American International Group Inc. now owns 95,461 shares of the biopharmaceutical company’s stock worth $275,000 after purchasing an additional 5,923 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Akebia Therapeutics by 38.7% in the third quarter. Teacher Retirement System of Texas now owns 23,527 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 6,565 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Akebia Therapeutics by 1.2% in the fourth quarter. Nuveen Asset Management LLC now owns 580,106 shares of the biopharmaceutical company’s stock worth $1,334,000 after purchasing an additional 7,107 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Akebia Therapeutics by 8.4% in the third quarter. The Manufacturers Life Insurance Company now owns 102,890 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 7,940 shares in the last quarter. 55.34% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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