Akebia Therapeutics (NASDAQ:AKBA) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a report published on Thursday morning.

Separately, HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $1.82 on Thursday. The company has a market cap of $397.09 million, a P/E ratio of -7.91 and a beta of 0.74. Akebia Therapeutics has a one year low of $0.80 and a one year high of $2.48. The business has a fifty day moving average of $1.54 and a two-hundred day moving average of $1.34.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the prior year, the firm earned ($0.08) EPS. Sell-side analysts predict that Akebia Therapeutics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AKBA. State Street Corp grew its position in Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after purchasing an additional 683,287 shares during the last quarter. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after buying an additional 618,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Akebia Therapeutics by 3,122.2% in the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Akebia Therapeutics during the third quarter valued at about $534,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Akebia Therapeutics by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock worth $3,993,000 after acquiring an additional 262,700 shares during the period. 33.92% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

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.