Akebia Therapeutics (NASDAQ:AKBA) Trading Up 5.9%

Akebia Therapeutics Inc (NASDAQ:AKBA) was up 5.9% during mid-day trading on Thursday . The stock traded as high as $4.63 and last traded at $4.63. Approximately 962,880 shares traded hands during trading, a decline of 16% from the average daily volume of 1,142,443 shares. The stock had previously closed at $4.37.

Several equities analysts have issued reports on AKBA shares. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Zacks Investment Research cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BidaskClub upgraded Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. started coverage on Akebia Therapeutics in a research report on Thursday, May 2nd. They set an “overweight” rating and a $12.00 target price on the stock. Finally, Citigroup assumed coverage on Akebia Therapeutics in a research report on Wednesday, March 20th. They set a “neutral” rating and a $9.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.03.

The firm has a 50 day moving average of $4.85. The stock has a market capitalization of $545.70 million, a price-to-earnings ratio of -1.98 and a beta of 1.51. The company has a current ratio of 1.71, a quick ratio of 1.15 and a debt-to-equity ratio of 0.06.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). The firm had revenue of $72.67 million for 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 analysts anticipate that Akebia Therapeutics Inc will post -1.39 EPS for the current year.

Large investors have recently made changes to their positions in the company. First Quadrant L P CA purchased a new stake in shares of Akebia Therapeutics during the 1st quarter worth approximately $43,000. Great West Life Assurance Co. Can lifted its stake in Akebia Therapeutics by 80.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 8,418 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 3,743 shares in the last quarter. Advisor Group Inc. lifted its stake in Akebia Therapeutics by 3,206.3% in the 4th quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 9,619 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Akebia Therapeutics in the 4th quarter valued at approximately $57,000. Finally, Jane Street Group LLC purchased a new stake in Akebia Therapeutics in the 4th quarter valued at approximately $57,000. 70.50% of the stock is currently owned by institutional investors and hedge funds.

About Akebia Therapeutics (NASDAQ:AKBA)

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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