Wall Street Zen Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Buy

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

AKBA has been the topic of a number of other research reports. BTIG Research dropped their price target on Akebia Therapeutics from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. HC Wainwright lowered their target price on shares of Akebia Therapeutics from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Akebia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA opened at $1.59 on Friday. The business’s 50-day moving average is $2.39 and its 200 day moving average is $3.02. Akebia Therapeutics has a 1 year low of $1.49 and a 1 year high of $4.08. The firm has a market capitalization of $421.93 million, a P/E ratio of -9.35 and a beta of 0.62. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. boosted its holdings in Akebia Therapeutics by 51.9% in the first quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 6,595 shares during the last quarter. Abel Hall LLC acquired a new position in shares of Akebia Therapeutics in the 2nd quarter valued at about $39,000. Baird Financial Group Inc. boosted its stake in shares of Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 4,000 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Akebia Therapeutics in the third quarter worth about $42,000. Finally, Unified Investment Management acquired a new stake in Akebia Therapeutics during the third quarter worth about $49,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.