Akebia Therapeutics (AKBA) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a strong sell rating to a sell rating in a research report report published on Tuesday, May 7th, BidAskClub reports.

AKBA has been the topic of several other research reports. ValuEngine cut shares of Akebia Therapeutics from a hold rating to a sell rating in a report on Tuesday, January 22nd. Zacks Investment Research raised Akebia Therapeutics from a hold rating to a buy rating and set a $6.75 target price for the company in a research report on Tuesday, January 15th. JPMorgan Chase & Co. started coverage on Akebia Therapeutics in a research report on Thursday, May 2nd. They issued an overweight rating and a $12.00 target price for the company. Finally, Citigroup started coverage on Akebia Therapeutics in a research report on Wednesday, March 20th. They set a neutral rating and a $9.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Akebia Therapeutics presently has an average rating of Hold and a consensus target price of $14.03.

Shares of NASDAQ AKBA traded down $0.16 during mid-day trading on Tuesday, hitting $4.82. The stock had a trading volume of 809,441 shares, compared to its average volume of 1,139,818. 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 has a 1 year low of $4.76 and a 1 year high of $11.60. The company has a market cap of $568.10 million, a price-to-earnings ratio of -1.98 and a beta of 1.34.

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

Institutional investors have recently made changes to their positions in the company. Baupost Group LLC MA bought a new stake in Akebia Therapeutics during the fourth quarter valued at about $135,327,000. Morgan Stanley boosted its position in Akebia Therapeutics by 35.7% during the third quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock valued at $16,666,000 after purchasing an additional 496,069 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Akebia Therapeutics during the third quarter valued at about $4,006,000. Clearbridge Investments LLC boosted its position in Akebia Therapeutics by 787,904.7% during the third quarter. Clearbridge Investments LLC now owns 1,016,526 shares of the biopharmaceutical company’s stock valued at $8,976,000 after purchasing an additional 1,016,397 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Akebia Therapeutics by 5.1% during the third quarter. BlackRock Inc. now owns 5,268,846 shares of the biopharmaceutical company’s stock valued at $46,523,000 after purchasing an additional 253,811 shares in the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.

About Akebia Therapeutics

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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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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