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

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research note on Tuesday.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.89 on Wednesday. The stock has a fifty day moving average of $1.91 and a 200-day moving average of $1.56. The stock has a market capitalization of $412.36 million, a P/E ratio of -8.22 and a beta of 0.72. Akebia Therapeutics has a 52 week low of $0.80 and a 52 week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted 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 company had revenue of $37.43 million for the quarter, compared to analyst estimates of $45.66 million. During the same period last year, the business posted ($0.08) earnings per share. Equities research analysts forecast that Akebia Therapeutics will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AKBA. Mercer Global Advisors Inc. ADV boosted its position in shares of Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 9,037 shares during the period. Empirical Asset Management LLC acquired a new stake in shares of Akebia Therapeutics in the third quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the second quarter worth $44,000. XTX Topco Ltd bought a new position in Akebia Therapeutics in the third quarter valued at $58,000. Finally, Intech Investment Management LLC bought a new stake in Akebia Therapeutics during the 3rd quarter worth about $59,000. Institutional investors and hedge funds 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.