Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Lowered by BidaskClub

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

AKBA has been the topic of a number of other research reports. Morgan Stanley cut their price objective on shares of Akebia Therapeutics from $12.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, September 4th. BTIG Research cut their price objective on shares of Akebia Therapeutics from $26.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. Mizuho cut their price objective on shares of Akebia Therapeutics from $17.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. ValuEngine raised shares of Akebia Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. Finally, HC Wainwright cut their price objective on shares of Akebia Therapeutics from $17.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, September 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $9.88.

Shares of Akebia Therapeutics stock opened at $2.67 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.76 and a current ratio of 2.29. The firm’s 50-day simple moving average is $8.56 and its 200-day simple moving average is $9.63. Akebia Therapeutics has a twelve month low of $2.46 and a twelve month high of $13.71. The firm has a market cap of $382.66 million, a P/E ratio of -0.89 and a beta of 1.19.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. The business had revenue of $90.14 million for the quarter, compared to analyst estimates of $76.24 million. Akebia Therapeutics had a negative net margin of 113.35% and a negative return on equity of 55.64%. On average, equities analysts forecast that Akebia Therapeutics will post -1.5 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in AKBA. Private Advisor Group LLC bought a new position in Akebia Therapeutics during the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. bought a new position in Akebia Therapeutics during the 2nd quarter worth approximately $28,000. Macquarie Group Ltd. bought a new position in Akebia Therapeutics during the 2nd quarter worth approximately $60,000. Advisor Group Holdings Inc. bought a new position in Akebia Therapeutics during the 1st quarter worth approximately $90,000. Finally, Great West Life Assurance Co. Can raised its holdings in Akebia Therapeutics by 66.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 7,428 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 2,962 shares during the last quarter. Hedge funds and other institutional investors own 76.75% of the company’s stock.

Akebia Therapeutics Company Profile

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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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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