Akebia Therapeutics (NASDAQ:AKBA) Upgraded by Zacks Investment Research to Hold

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Other equities analysts also recently issued reports about the company. HC Wainwright set a $2.00 price objective on Asanko Gold and gave the stock a “buy” rating in a report on Thursday. Citigroup initiated coverage on Akebia Therapeutics in a report on Wednesday, March 20th. They issued a “neutral” rating and a $9.00 price objective on the stock. ValuEngine upgraded China Southern Airlines from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. set a €28.20 ($32.79) price objective on AXA and gave the stock a “buy” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.92.

NASDAQ AKBA traded down $0.01 during trading hours on Friday, hitting $4.21. 802,509 shares of the company’s stock were exchanged, compared to its average volume of 1,168,711. The stock has a 50 day simple moving average of $4.52. Akebia Therapeutics has a 12-month low of $4.08 and a 12-month high of $10.73. The firm has a market capitalization of $504.45 million, a price-to-earnings ratio of -1.73 and a beta of 1.49. The company has a quick ratio of 1.15, a current ratio of 1.71 and a debt-to-equity ratio of 0.06.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). Akebia Therapeutics had a negative return on equity of 45.06% and a negative net margin of 82.14%. The business had revenue of $72.67 million for the quarter, compared to analysts’ expectations of $83.69 million. On average, research analysts anticipate that Akebia Therapeutics will post -1.39 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in AKBA. First Quadrant L P CA purchased a new position in shares of Akebia Therapeutics in the 1st quarter worth about $43,000. Great West Life Assurance Co. Can raised its holdings in shares of Akebia Therapeutics by 80.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 8,418 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 3,743 shares during the period. Advisor Group Inc. raised its holdings in shares of Akebia Therapeutics by 3,206.3% in the 4th quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 9,619 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Akebia Therapeutics in the 4th quarter worth about $57,000. Finally, Jane Street Group LLC purchased a new position in shares of Akebia Therapeutics in the 4th quarter worth about $57,000. Institutional investors own 70.50% 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. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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