Akebia Therapeutics (NASDAQ:AKBA) Lifted to Hold at ValuEngine

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Akebia Therapeutics (NASDAQ:AKBA) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, September 21st.

A number of other equities research analysts have also recently issued reports on AKBA. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a report on Friday, June 29th. BidaskClub lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Zacks Investment Research lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Needham & Company LLC decreased their target price on shares of Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. Finally, Royal Bank of Canada restated a “hold” rating and set a $13.00 target price on shares of Akebia Therapeutics in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $18.75.

AKBA traded up $0.16 during trading on Friday, hitting $8.72. The company had a trading volume of 423,562 shares, compared to its average volume of 476,941. Akebia Therapeutics has a one year low of $7.32 and a one year high of $19.36. The stock has a market capitalization of $503.71 million, a P/E ratio of -4.93 and a beta of 0.96.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.09). The business had revenue of $48.79 million for the quarter, compared to the consensus estimate of $48.75 million. Akebia Therapeutics had a negative return on equity of 46.95% and a negative net margin of 30.60%. As a group, equities research analysts predict that Akebia Therapeutics will post -2.7 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of AKBA. BlackRock Inc. lifted its stake in Akebia Therapeutics by 16.7% in the 2nd quarter. BlackRock Inc. now owns 5,015,035 shares of the biopharmaceutical company’s stock valued at $50,050,000 after purchasing an additional 717,328 shares during the last quarter. DAFNA Capital Management LLC raised its stake in shares of Akebia Therapeutics by 349.9% during the first quarter. DAFNA Capital Management LLC now owns 610,738 shares of the biopharmaceutical company’s stock valued at $5,820,000 after acquiring an additional 475,000 shares during the last quarter. CVI Holdings LLC bought a new position in shares of Akebia Therapeutics during the first quarter valued at $3,121,000. PNC Financial Services Group Inc. raised its stake in shares of Akebia Therapeutics by 653,850.0% during the first quarter. PNC Financial Services Group Inc. now owns 313,896 shares of the biopharmaceutical company’s stock valued at $2,991,000 after acquiring an additional 313,848 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Akebia Therapeutics by 129.7% during the second quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock valued at $5,382,000 after acquiring an additional 304,490 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

Further Reading: Earnings Per Share (EPS)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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