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

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

A number of other equities research analysts have also recently commented on the stock. BTIG Research cut shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, March 31st. Zacks Investment Research cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Cantor Fitzgerald cut shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a report on Friday, April 1st. Piper Sandler downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $2.00 in a research report on Wednesday, March 30th. Finally, HC Wainwright lowered their price objective on shares of Akebia Therapeutics from $2.00 to $1.25 in a research report on Monday, May 16th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1.44.

Shares of AKBA opened at $0.37 on Tuesday. The stock has a market cap of $67.91 million, a PE ratio of -0.23 and a beta of 1.56. Akebia Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $4.33. The firm’s 50-day simple moving average is $0.70 and its two-hundred day simple moving average is $1.75.

Akebia Therapeutics (NASDAQ:AKBAGet Rating) last posted its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.06). Akebia Therapeutics had a negative net margin of 123.64% and a negative return on equity of 266.13%. During the same quarter in the previous year, the firm posted ($0.45) EPS. On average, sell-side analysts forecast that Akebia Therapeutics will post -0.82 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in Akebia Therapeutics in the fourth quarter worth approximately $30,000. D. E. Shaw & Co. Inc. bought a new position in Akebia Therapeutics in the fourth quarter worth approximately $33,000. Janus Henderson Group PLC bought a new position in Akebia Therapeutics in the third quarter worth approximately $42,000. Mackenzie Financial Corp bought a new position in Akebia Therapeutics in the fourth quarter worth approximately $48,000. Finally, Two Sigma Securities LLC bought a new position in Akebia Therapeutics in the third quarter worth approximately $62,000. Institutional investors own 55.34% 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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