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

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 Tuesday.

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

Akebia Therapeutics Stock Down 2.6 %

Akebia Therapeutics stock opened at $1.87 on Tuesday. Akebia Therapeutics has a 52 week low of $0.80 and a 52 week high of $2.48. The firm has a market cap of $408.00 million, a price-to-earnings ratio of -8.13 and a beta of 0.72. The business’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.52.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $45.66 million. During the same period last year, the business posted ($0.08) earnings per share. Equities analysts expect that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Akebia Therapeutics by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 9,662 shares in the last quarter. Franklin Resources Inc. acquired a new position in Akebia Therapeutics in the 3rd quarter valued at $221,000. Barclays PLC lifted its holdings in Akebia Therapeutics by 276.1% in the 3rd quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 200,482 shares in the last quarter. Geode Capital Management LLC boosted its stake in Akebia Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after purchasing an additional 218,172 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Akebia Therapeutics during the third quarter worth $58,000. 33.92% of the stock is 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.