Akebia Therapeutics (NASDAQ:AKBA) Lowered to “Sell” Rating by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Wednesday, October 23rd.

Akebia Therapeutics Stock Performance

NASDAQ AKBA traded up $0.05 during trading on Monday, hitting $1.99. The stock had a trading volume of 2,889,357 shares, compared to its average volume of 2,354,496. The company has a market capitalization of $418.48 million, a PE ratio of -8.65 and a beta of 0.74. The company’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.31. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the prior year, the company posted ($0.08) EPS. As a group, equities analysts anticipate that Akebia Therapeutics will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock valued at $15,054,000 after buying an additional 618,500 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at $79,000. SG Americas Securities LLC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $34,000. Bank of New York Mellon Corp grew its holdings in Akebia Therapeutics by 3,122.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock valued at $617,000 after buying an additional 585,789 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Akebia Therapeutics by 4,915.4% in the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 242,134 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.