BidaskClub Downgrades Akebia Therapeutics (AKBA) to Strong Sell

BidaskClub cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a strong sell rating in a research report released on Saturday morning, BidAskClub reports.

A number of other equities analysts have also issued reports on the company. ValuEngine lowered Akebia Therapeutics from a hold rating to a sell rating in a research note on Tuesday, January 22nd. Zacks Investment Research lowered Akebia Therapeutics from a buy rating to a hold rating in a research note on Monday, February 11th. JPMorgan Chase & Co. assumed coverage on Akebia Therapeutics in a research note on Thursday, May 2nd. They issued an overweight rating and a $12.00 target price for the company. Finally, Citigroup assumed coverage on Akebia Therapeutics in a research note on Wednesday, March 20th. They issued a neutral rating and a $9.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Akebia Therapeutics has a consensus rating of Hold and an average target price of $14.03.

Shares of Akebia Therapeutics stock traded down $0.12 during trading on Friday, reaching $5.50. The company’s stock had a trading volume of 864,697 shares, compared to its average volume of 1,030,728. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.71 and a quick ratio of 1.15. Akebia Therapeutics has a 1-year low of $5.20 and a 1-year high of $11.60.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.02). The business had revenue of $72.67 million during the quarter, compared to analyst estimates of $83.69 million. Akebia Therapeutics had a negative return on equity of 45.06% and a negative net margin of 82.14%. Research analysts anticipate that Akebia Therapeutics will post -1.75 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in Akebia Therapeutics by 3.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 57,669 shares of the biopharmaceutical company’s stock worth $472,000 after acquiring an additional 1,991 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Akebia Therapeutics by 5.9% during the 4th quarter. MetLife Investment Advisors LLC now owns 40,608 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 2,250 shares during the last quarter. Strs Ohio raised its stake in shares of Akebia Therapeutics by 5.4% during the 1st quarter. Strs Ohio now owns 45,100 shares of the biopharmaceutical company’s stock valued at $369,000 after buying an additional 2,300 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Akebia Therapeutics by 18.2% during the 1st quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 2,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Akebia Therapeutics by 57.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,812 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,835 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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