BidaskClub Lowers Akebia Therapeutics (NASDAQ:AKBA) to Sell

BidaskClub downgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on AKBA. JPMorgan Chase & Co. set a €28.20 ($32.79) price objective on shares of AXA and gave the company a buy rating in a research note on Thursday, May 2nd. Citigroup started coverage on shares of Akebia Therapeutics in a research note on Wednesday, March 20th. They set a neutral rating and a $9.00 price objective on the stock. Finally, ValuEngine upgraded shares of China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $13.92.

Akebia Therapeutics stock opened at $4.22 on Tuesday. The firm has a market capitalization of $504.45 million, a P/E ratio of -1.73 and a beta of 1.49. The stock has a fifty day simple moving average of $4.52. 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 has a 12 month low of $4.08 and a 12 month high of $10.73.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). Akebia Therapeutics had a negative return on equity of 45.06% and a negative net margin of 82.14%. The business had revenue of $72.67 million during the quarter, compared to analyst estimates of $83.69 million. On average, research analysts predict that Akebia Therapeutics will post -1.39 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC boosted its holdings in Akebia Therapeutics by 3.4% in the first quarter. Clearbridge Investments LLC now owns 1,257,336 shares of the biopharmaceutical company’s stock valued at $10,298,000 after acquiring an additional 41,450 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Akebia Therapeutics in the 1st quarter valued at about $160,000. Lido Advisors LLC lifted its stake in shares of Akebia Therapeutics by 26.5% in the 1st quarter. Lido Advisors LLC now owns 47,686 shares of the biopharmaceutical company’s stock valued at $390,000 after purchasing an additional 9,986 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Akebia Therapeutics by 20.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,600 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 3,500 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in shares of Akebia Therapeutics in the 1st quarter valued at about $1,522,000. Institutional investors and hedge funds own 70.50% 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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