Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Upgraded by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd.

Akebia Therapeutics Stock Performance

NASDAQ:AKBA opened at $1.82 on Friday. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The company has a 50 day simple moving average of $1.74 and a two-hundred day simple moving average of $1.42. The company has a market capitalization of $397.09 million, a PE ratio of -7.91 and a beta of 0.70.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the prior year, the firm posted ($0.08) EPS. Research analysts predict that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its holdings in shares of Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares during the period. MetLife Investment Management LLC lifted its position in shares of Akebia Therapeutics by 25.7% during the 3rd quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 13,907 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 31,137 shares during the period. SG Americas Securities LLC purchased a new stake in Akebia Therapeutics in the 2nd quarter worth about $34,000. Finally, Empirical Asset Management LLC bought a new stake in Akebia Therapeutics in the 3rd quarter valued at about $44,000. 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.