Akebia Therapeutics (AKBA) Raised to Hold at Zacks Investment Research

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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. “

AKBA has been the subject of a number of other research reports. BidaskClub cut shares of Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Mizuho set a $24.00 price target on shares of Akebia Therapeutics and gave the company a “buy” rating in a research note on Wednesday, March 7th. Finally, ValuEngine cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $23.00.

AKBA stock traded up $0.36 during trading hours on Monday, reaching $9.83. The stock had a trading volume of 407,100 shares, compared to its average volume of 427,994. The stock has a market cap of $559.16 million, a P/E ratio of -5.55 and a beta of 1.09. Akebia Therapeutics has a fifty-two week low of $9.97 and a fifty-two week high of $10.35.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.01. The firm had revenue of $45.93 million during the quarter, compared to analysts’ expectations of $47.80 million. Akebia Therapeutics had a negative net margin of 27.48% and a negative return on equity of 47.15%. research analysts expect that Akebia Therapeutics will post -2.09 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of AKBA. Lido Advisors LLC bought a new position in shares of Akebia Therapeutics in the first quarter valued at about $135,000. Teacher Retirement System of Texas bought a new position in shares of Akebia Therapeutics in the fourth quarter valued at about $188,000. DekaBank Deutsche Girozentrale bought a new position in shares of Akebia Therapeutics in the first quarter valued at about $201,000. Macquarie Group Ltd. raised its position in shares of Akebia Therapeutics by 106.5% in the fourth quarter. Macquarie Group Ltd. now owns 19,200 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 9,900 shares during the period. Finally, MetLife Investment Advisors LLC bought a new position in shares of Akebia Therapeutics in the fourth quarter valued at about $319,000. 59.82% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company which engages in the development of novel proprietary therapeutics based on hypoxia-inducible factor and biology. It also includes the development and commercialization of drugs for the treatment of renal and metabolic disorders. It offers vadadustat which is an oral therapy in a phase three development that has the potential to set a new standard of care in treatment of anemia associated with chronic kidney disease.

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