Akebia Therapeutics (NASDAQ:AKBA) Upgraded to “Hold” by BidaskClub

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BidaskClub upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

AKBA has been the subject of a number of other reports. ValuEngine upgraded Akebia Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Akebia Therapeutics from a sell rating to a hold rating in a report on Friday, July 12th. HC Wainwright reiterated a buy rating and issued a $17.00 price target on shares of Akebia Therapeutics in a report on Monday. Finally, Mizuho set a $16.00 price target on Akebia Therapeutics and gave the company a buy rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $12.45.

Akebia Therapeutics stock traded down $0.16 during midday trading on Thursday, hitting $5.10. 1,183,232 shares of the company were exchanged, compared to its average volume of 1,086,859. The company’s fifty day moving average price is $4.21 and its 200-day moving average price is $5.54. Akebia Therapeutics has a fifty-two week low of $3.50 and a fifty-two week high of $10.45. The company has a market cap of $602.62 million, a PE ratio of -2.09 and a beta of 1.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.70 and a quick ratio of 1.05.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. Akebia Therapeutics had a negative return on equity of 36.92% and a negative net margin of 75.64%. The company had revenue of $100.80 million for the quarter, compared to analyst estimates of $88.35 million. On average, analysts expect that Akebia Therapeutics will post -1.41 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in Akebia Therapeutics by 290.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 18,674 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 13,896 shares during the last quarter. Boston Partners grew its stake in Akebia Therapeutics by 1.3% during the 1st quarter. Boston Partners now owns 283,044 shares of the biopharmaceutical company’s stock worth $2,318,000 after buying an additional 3,666 shares during the last quarter. IndexIQ Advisors LLC bought a new position in Akebia Therapeutics during the 1st quarter worth $1,522,000. DekaBank Deutsche Girozentrale grew its stake in Akebia Therapeutics by 20.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,600 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 3,500 shares during the last quarter. Finally, Lido Advisors LLC grew its stake in Akebia Therapeutics by 26.5% during the 1st quarter. Lido Advisors LLC now owns 47,686 shares of the biopharmaceutical company’s stock worth $390,000 after buying an additional 9,986 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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