Akebia Therapeutics, Inc. (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

AKBA has been the topic of a number of other reports. UBS Group AG reissued a “buy” rating and set a $17.00 target price (up from $12.00) on shares of Akebia Therapeutics in a research report on Friday, May 5th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target (up previously from $18.00) on shares of Akebia Therapeutics in a research note on Wednesday, May 17th. JMP Securities lifted their price target on shares of Akebia Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Aegis restated a “buy” rating on shares of Akebia Therapeutics in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Akebia Therapeutics has a consensus rating of “Buy” and an average target price of $18.25.

Shares of Akebia Therapeutics (NASDAQ AKBA) traded down 1.45% during midday trading on Tuesday, hitting $13.62. 272,243 shares of the company’s stock were exchanged. The stock’s market cap is $249.25 million. The stock’s 50 day moving average is $14.24 and its 200-day moving average is $11.02. Akebia Therapeutics has a 1-year low of $7.16 and a 1-year high of $16.54.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $1.00. The firm had revenue of $20.87 million for the quarter, compared to analyst estimates of $16.50 million. Analysts predict that Akebia Therapeutics will post ($3.46) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Downgrades Akebia Therapeutics, Inc. (AKBA) to Sell” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/07/18/zacks-investment-research-downgrades-akebia-therapeutics-inc-akba-to-sell.html.

In related news, Director Muneer A. Satter purchased 1,034,482 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average price of $14.50 per share, for a total transaction of $14,999,989.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.67% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of AKBA. Creative Planning raised its stake in shares of Akebia Therapeutics by 2.9% in the second quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 300 shares during the period. Goldman Sachs Group Inc. raised its stake in Akebia Therapeutics by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock valued at $453,000 after buying an additional 608 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in Akebia Therapeutics by 7.2% in the fourth quarter. Tudor Investment Corp Et Al now owns 19,728 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 1,318 shares during the last quarter. American International Group Inc. raised its stake in Akebia Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 1,460 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in Akebia Therapeutics by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 63,804 shares of the biopharmaceutical company’s stock valued at $664,000 after buying an additional 2,454 shares during the last quarter. Institutional investors and hedge funds own 48.21% of the company’s stock.

Akebia Therapeutics Company Profile

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).

Get a free copy of the Zacks research report on Akebia Therapeutics (AKBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

Receive News & Ratings for Akebia Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.