StockNews.com Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Sell

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, HC Wainwright restated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Wednesday, October 23rd.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock traded up $0.03 during midday trading on Thursday, reaching $1.82. The stock had a trading volume of 1,435,251 shares, compared to its average volume of 3,083,659. The stock has a market capitalization of $397.09 million, a PE ratio of -7.91 and a beta of 0.74. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.48. The stock’s 50-day simple moving average is $1.53 and its 200 day simple moving average is $1.34.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the previous year, the business posted ($0.08) earnings per share. Equities analysts predict that Akebia Therapeutics will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

Several large investors have recently modified their holdings of AKBA. Mercer Global Advisors Inc. ADV grew its holdings in Akebia Therapeutics by 40.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Akebia Therapeutics by 25.7% during the third quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 13,907 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 31,137 shares in the last quarter. SG Americas Securities LLC bought a new stake in Akebia Therapeutics in the second quarter valued at about $34,000. Finally, Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the third quarter valued at approximately $44,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.