Akebia Therapeutics (NASDAQ:AKBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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. “

Several other analysts have also recently issued reports on AKBA. Royal Bank of Canada initiated coverage on Akebia Therapeutics in a report on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 target price for the company. Mizuho initiated coverage on Akebia Therapeutics in a report on Wednesday, October 4th. They issued a “buy” rating and a $24.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Akebia Therapeutics in a report on Wednesday, November 15th. ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BTIG Research initiated coverage on Akebia Therapeutics in a report on Thursday, December 7th. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.20.

Shares of Akebia Therapeutics (AKBA) traded up $0.10 on Tuesday, hitting $14.97. The company had a trading volume of 444,693 shares, compared to its average volume of 347,097. Akebia Therapeutics has a 52-week low of $8.58 and a 52-week high of $20.25. The stock has a market capitalization of $702.89, a PE ratio of -4.74 and a beta of 0.87.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.07. The company had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. equities analysts predict that Akebia Therapeutics will post -2.25 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Akebia Therapeutics by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 41,510 shares of the biopharmaceutical company’s stock valued at $596,000 after purchasing an additional 518 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Akebia Therapeutics by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 714 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Akebia Therapeutics by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 88,116 shares of the biopharmaceutical company’s stock valued at $1,266,000 after purchasing an additional 880 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Akebia Therapeutics by 4.5% in the 2nd quarter. Nationwide Fund Advisors now owns 21,403 shares of the biopharmaceutical company’s stock valued at $308,000 after purchasing an additional 915 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Akebia Therapeutics by 11.7% in the 2nd quarter. Voya Investment Management LLC now owns 18,454 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 1,933 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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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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