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

StockNews.com cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research note published on Monday.

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

Akebia Therapeutics Stock Performance

NASDAQ:AKBA opened at $1.85 on Monday. The firm’s 50-day moving average is $1.87 and its 200-day moving average is $1.49. The company has a market cap of $403.63 million, a price-to-earnings ratio of -8.04 and a beta of 0.70. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Equities analysts predict that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV lifted its stake 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 valued at $32,000 after purchasing an additional 9,037 shares during the period. Empirical Asset Management LLC bought a new stake in Akebia Therapeutics in the third quarter valued at about $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics in the second quarter valued at about $44,000. XTX Topco Ltd bought a new position in Akebia Therapeutics during the third quarter worth about $58,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics during the 3rd quarter worth about $59,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.