Akebia Therapeutics (NASDAQ:AKBA) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a strong sell rating to a sell rating in a research note published on Tuesday, BidAskClub reports.

AKBA has been the topic of a number of other reports. ValuEngine raised shares of Akebia Therapeutics from a sell rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Akebia Therapeutics from a sell rating to a hold rating in a research report on Friday, July 12th. Mizuho set a $16.00 target price on shares of Akebia Therapeutics and gave the stock a buy rating in a research report on Friday, August 9th. JPMorgan Chase & Co. initiated coverage on shares of Akebia Therapeutics in a research report on Thursday, May 2nd. They set an overweight rating and a $12.00 target price on the stock. Finally, HC Wainwright reduced their target price on shares of Akebia Therapeutics from $19.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Akebia Therapeutics presently has a consensus rating of Hold and a consensus target price of $11.88.

Shares of NASDAQ AKBA opened at $4.30 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.70 and a quick ratio of 1.15. Akebia Therapeutics has a 1 year low of $3.50 and a 1 year high of $10.45. The firm has a 50-day simple moving average of $4.18 and a two-hundred day simple moving average of $5.79.

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

Several large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC increased its position in shares of Akebia Therapeutics by 5.9% during the fourth quarter. MetLife Investment Advisors LLC now owns 40,608 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 2,250 shares during the period. Strs Ohio increased its position in shares of Akebia Therapeutics by 5.4% during the first quarter. Strs Ohio now owns 45,100 shares of the biopharmaceutical company’s stock worth $369,000 after acquiring an additional 2,300 shares during the period. Virginia Retirement Systems ET AL increased its position in shares of Akebia Therapeutics by 18.2% during the first quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 2,500 shares during the period. M&T Bank Corp increased its position in shares of Akebia Therapeutics by 24.9% during the second quarter. M&T Bank Corp now owns 14,507 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 2,894 shares during the period. Finally, Sun Life Financial INC increased its position in shares of Akebia Therapeutics by 9.3% during the second quarter. Sun Life Financial INC now owns 34,162 shares of the biopharmaceutical company’s stock worth $165,000 after acquiring an additional 2,907 shares during the period. 70.64% of the stock is currently owned by institutional investors and hedge funds.

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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