Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a report published on Thursday, BidAskClub reports.

Several other brokerages have also weighed in on AKBA. Zacks Investment Research raised Akebia Therapeutics from a sell rating to a hold rating in a research report on Friday, July 12th. Mizuho set a $16.00 target price on Akebia Therapeutics and gave the stock a buy rating in a research report on Friday, August 9th. HC Wainwright reaffirmed a buy rating and issued a $17.00 target price on shares of Akebia Therapeutics in a research report on Monday. Finally, ValuEngine raised Akebia Therapeutics from a sell rating to a hold rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $12.45.

NASDAQ:AKBA traded down $0.16 during trading hours on Thursday, hitting $5.10. 1,183,232 shares of the company’s stock traded hands, compared to its average volume of 1,086,859. The firm has a market cap of $602.62 million, a P/E ratio of -2.09 and a beta of 1.43. Akebia Therapeutics has a twelve month low of $3.50 and a twelve month high of $10.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.70. The stock’s fifty day moving average price is $4.21 and its two-hundred day moving average price is $5.54.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $100.80 million for the quarter, compared to analyst estimates of $88.35 million. Akebia Therapeutics had a negative return on equity of 36.92% and a negative net margin of 75.64%. On average, equities research analysts predict that Akebia Therapeutics will post -1.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio boosted its stake in Akebia Therapeutics by 6.0% during the 2nd quarter. Strs Ohio now owns 47,800 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 2,700 shares during the period. M&T Bank Corp boosted its stake in Akebia Therapeutics by 24.9% during the 2nd quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 2,894 shares during the period. Sun Life Financial INC boosted its stake in Akebia Therapeutics by 9.3% during the 2nd quarter. Sun Life Financial INC now owns 34,162 shares of the biopharmaceutical company’s stock valued at $165,000 after purchasing an additional 2,907 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Akebia Therapeutics by 20.5% during 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, Boston Partners boosted its stake in Akebia Therapeutics by 1.3% during the 1st quarter. Boston Partners now owns 283,044 shares of the biopharmaceutical company’s stock valued at $2,318,000 after purchasing an additional 3,666 shares during the period. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

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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