BidaskClub Downgrades Akebia Therapeutics, Inc. (NASDAQ:AKBA) to Sell
Akebia Therapeutics, Inc. (NASDAQ:AKBA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
AKBA has been the subject of a number of other research reports. UBS AG reiterated a “buy” rating and set a $17.00 target price (up previously from $12.00) on shares of Akebia Therapeutics in a research note on Friday, May 5th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, June 6th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price (up previously from $18.00) on shares of Akebia Therapeutics in a research note on Wednesday, May 17th. JMP Securities boosted their target price 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, Zacks Investment Research downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.25.
Akebia Therapeutics (NASDAQ AKBA) traded up 1.10% during mid-day trading on Wednesday, hitting $13.82. The stock had a trading volume of 433,208 shares. The firm has a 50-day moving average of $14.38 and a 200-day moving average of $11.50. The stock’s market cap is $252.91 million. Akebia Therapeutics has a 52-week low of $7.16 and a 52-week high of $16.54.
Akebia Therapeutics (NASDAQ:AKBA) last issued 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 company had revenue of $20.87 million for the quarter, compared to analysts’ expectations of $16.50 million. On average, analysts forecast that Akebia Therapeutics will post ($3.46) EPS for the current fiscal year.
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In related news, Director Muneer A. Satter acquired 1,034,482 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was bought at an average price of $14.50 per share, for a total transaction of $14,999,989.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.95% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. increased its position in Akebia Therapeutics by 1.5% in the first quarter. Eagle Asset Management Inc. now owns 3,550,547 shares of the biopharmaceutical company’s stock valued at $32,665,000 after buying an additional 51,190 shares in the last quarter. First Manhattan Co. increased its position in Akebia Therapeutics by 64.2% in the first quarter. First Manhattan Co. now owns 1,705,300 shares of the biopharmaceutical company’s stock valued at $15,432,000 after buying an additional 666,800 shares in the last quarter. Vanguard Group Inc. increased its position in Akebia Therapeutics by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,301,880 shares of the biopharmaceutical company’s stock valued at $11,977,000 after buying an additional 105,645 shares in the last quarter. Morgan Stanley increased its position in Akebia Therapeutics by 6.8% in the first quarter. Morgan Stanley now owns 870,442 shares of the biopharmaceutical company’s stock valued at $8,008,000 after buying an additional 55,369 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in Akebia Therapeutics during the first quarter valued at about $6,232,000. Institutional investors own 48.21% of the company’s stock.
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).
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