Akebia Therapeutics (NASDAQ:AKBA) Downgraded by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, HC Wainwright boosted their price target on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th.

Akebia Therapeutics Trading Up 1.3 %

AKBA stock opened at $1.56 on Thursday. The firm has a 50 day moving average of $1.63 and a 200-day moving average of $1.31. The firm has a market capitalization of $326.62 million, a P/E ratio of -5.57 and a beta of 0.79. Akebia Therapeutics has a 12 month low of $0.55 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same period in the previous year, the business earned ($0.04) earnings per share. Sell-side analysts predict that Akebia Therapeutics will post -0.28 EPS for the current year.

Insider Transactions at Akebia Therapeutics

In other Akebia Therapeutics news, SVP Steven Keith Burke sold 24,311 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $1.68, for a total transaction of $40,842.48. Following the transaction, the senior vice president now directly owns 711,376 shares in the company, valued at $1,195,111.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John P. Butler sold 37,733 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $1.52, for a total transaction of $57,354.16. Following the completion of the sale, the chief executive officer now directly owns 2,091,150 shares in the company, valued at approximately $3,178,548. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Steven Keith Burke sold 24,311 shares of Akebia Therapeutics stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $40,842.48. Following the completion of the transaction, the senior vice president now directly owns 711,376 shares in the company, valued at $1,195,111.68. The disclosure for this sale can be found here. In the last three months, insiders sold 187,893 shares of company stock worth $300,598. 3.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Wealth Strategies LLC bought a new position in Akebia Therapeutics during the 4th quarter valued at approximately $25,000. Archer Investment Corp bought a new position in shares of Akebia Therapeutics during the fourth quarter valued at approximately $25,000. Mackenzie Financial Corp lifted its stake in Akebia Therapeutics by 37.6% in the fourth quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 6,330 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Akebia Therapeutics by 123.7% in the second quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 50,066 shares in the last quarter. Finally, Raymond James & Associates increased its position in Akebia Therapeutics by 48.0% during the 4th quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 9,696 shares during the period. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

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 Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.