Akebia Therapeutics (AKBA) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research note released on Friday.

A number of other equities research analysts have also commented on the company. Royal Bank Of Canada reissued a hold rating and issued a $17.00 price target on shares of Akebia Therapeutics in a research report on Thursday, November 2nd. HC Wainwright reissued a buy rating and issued a $24.00 price target on shares of Akebia Therapeutics in a research report on Wednesday, November 15th. Mizuho reissued a buy rating and issued a $24.00 price target on shares of Akebia Therapeutics in a research report on Thursday, November 9th. Zacks Investment Research raised Akebia Therapeutics from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Monday, November 13th. Finally, BidaskClub raised Akebia Therapeutics from a sell rating to a hold rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Akebia Therapeutics currently has a consensus rating of Buy and a consensus price target of $20.75.

Shares of Akebia Therapeutics (NASDAQ:AKBA) opened at $15.39 on Friday. Akebia Therapeutics has a 12-month low of $7.78 and a 12-month high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. The business had revenue of $41.28 million during the quarter, compared to analyst estimates of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. analysts expect that Akebia Therapeutics will post -2.25 EPS for the current fiscal year.

In other news, SVP Michel Dahan sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.30, for a total transaction of $96,500.00. Following the completion of the sale, the senior vice president now directly owns 97,224 shares of the company’s stock, valued at approximately $1,876,423.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 7,586 shares of company stock valued at $147,289. Insiders own 8.67% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Akebia Therapeutics during the 2nd quarter valued at $132,000. Legal & General Group Plc increased its position in shares of Akebia Therapeutics by 8.0% during the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 714 shares during the last quarter. Creative Planning increased its position in shares of Akebia Therapeutics by 2.9% during the 2nd quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 300 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Akebia Therapeutics during the 2nd quarter valued at $159,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at $183,000. 62.82% of the stock is owned by hedge funds and other institutional investors.

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About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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