Akebia Therapeutics, Inc. (AKBA) Downgraded by Zacks Investment Research to Hold
Akebia Therapeutics, Inc. (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “
A number of other research analysts have also issued reports on AKBA. HC Wainwright reiterated a “buy” rating and set a $24.00 target price on shares of Akebia Therapeutics in a research report on Wednesday, August 9th. Mizuho began coverage on Akebia Therapeutics in a report on Wednesday, October 4th. They issued a “buy” rating and a $24.00 price objective on the stock. BidaskClub upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $28.00 price objective on shares of Akebia Therapeutics in a report on Saturday, September 16th. Finally, Aegis restated a “buy” rating on shares of Akebia Therapeutics in a report on Friday, June 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Akebia Therapeutics presently has a consensus rating of “Buy” and an average price target of $22.00.
Akebia Therapeutics (NASDAQ AKBA) traded up 1.07% during trading on Tuesday, hitting $18.94. 193,954 shares of the stock traded hands. The stock’s market cap is $346.60 million. The stock has a 50 day moving average price of $17.42 and a 200-day moving average price of $14.04. Akebia Therapeutics has a 52-week low of $7.16 and a 52-week high of $20.25.
Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.36. The business had revenue of $28.52 million for the quarter, compared to analysts’ expectations of $26.50 million. On average, analysts anticipate that Akebia Therapeutics will post ($2.64) EPS for the current fiscal year.
In related news, SVP Michel Dahan sold 1,398 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $19.64, for a total transaction of $27,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 12,586 shares of company stock worth $222,289. Insiders own 8.67% of the company’s stock.
Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Akebia Therapeutics by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock worth $453,000 after purchasing an additional 608 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Akebia Therapeutics by 6.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 125,130 shares of the biopharmaceutical company’s stock valued at $1,152,000 after acquiring an additional 7,353 shares in the last quarter. Morgan Stanley grew its position in Akebia Therapeutics by 6.8% in the 1st quarter. Morgan Stanley now owns 870,442 shares of the biopharmaceutical company’s stock valued at $8,008,000 after acquiring an additional 55,369 shares in the last quarter. American International Group Inc. grew its position in Akebia Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock valued at $204,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Hartwell J M Limited Partnership acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $144,000. 57.62% of the stock is owned by hedge funds and other institutional investors.
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).
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