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

Equities researchers at StockNews.com assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright dropped their price objective on Akebia Therapeutics from $2.00 to $1.25 in a report on Monday, May 16th. Piper Sandler downgraded Akebia Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $2.00 in a report on Wednesday, March 30th. BTIG Research downgraded Akebia Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, March 31st. Cantor Fitzgerald cut Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, April 1st. Finally, Needham & Company LLC cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, March 31st. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.75.

Shares of AKBA opened at $0.39 on Friday. The company has a market capitalization of $72.17 million, a price-to-earnings ratio of -0.25 and a beta of 1.57. Akebia Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $4.33. The business’s 50-day moving average is $0.40 and its 200-day moving average is $1.48.

Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last released its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.08). Akebia Therapeutics had a negative return on equity of 266.13% and a negative net margin of 123.64%. The firm had revenue of $61.70 million during the quarter, compared to analyst estimates of $44.37 million. During the same quarter in the prior year, the company posted ($0.45) EPS. On average, equities analysts predict that Akebia Therapeutics will post -0.82 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Akebia Therapeutics by 8.5% in the fourth quarter. Swiss National Bank now owns 364,785 shares of the biopharmaceutical company’s stock valued at $824,000 after acquiring an additional 28,700 shares during the period. Franklin Resources Inc. bought a new stake in shares of Akebia Therapeutics in the third quarter valued at approximately $351,000. Two Sigma Securities LLC bought a new stake in shares of Akebia Therapeutics in the third quarter valued at approximately $62,000. Credit Suisse AG boosted its position in shares of Akebia Therapeutics by 130.0% in the third quarter. Credit Suisse AG now owns 231,365 shares of the biopharmaceutical company’s stock valued at $666,000 after acquiring an additional 130,774 shares during the period. Finally, Ardent Capital Management Inc. bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at approximately $382,000. 55.34% of the stock is owned by institutional investors.

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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