Akebia Therapeutics’ (AKBA) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Akebia Therapeutics (NASDAQ:AKBA) in a research note released on Friday,Weiss Ratings reports.

A number of other brokerages have also weighed in on AKBA. Wall Street Zen lowered Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Zacks Research lowered Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.75.

Akebia Therapeutics Stock Up 1.7%

NASDAQ AKBA opened at $3.03 on Friday. Akebia Therapeutics has a fifty-two week low of $1.52 and a fifty-two week high of $4.08. The business has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $3.08. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. The stock has a market capitalization of $803.37 million, a PE ratio of -17.82 and a beta of 0.68.

Institutional Investors Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC bought a new position in shares of Akebia Therapeutics during the 1st quarter worth about $5,616,000. MPM Bioimpact LLC bought a new position in Akebia Therapeutics in the second quarter worth approximately $10,516,000. Woodline Partners LP acquired a new stake in Akebia Therapeutics in the first quarter valued at approximately $4,772,000. Nantahala Capital Management LLC bought a new stake in shares of Akebia Therapeutics during the first quarter valued at approximately $3,840,000. Finally, Vanguard Group Inc. raised its position in shares of Akebia Therapeutics by 16.6% during the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company’s stock worth $24,357,000 after purchasing an additional 1,801,603 shares during the period. 33.92% of the stock is owned by institutional investors.

About Akebia Therapeutics

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.