Akebia Therapeutics (NASDAQ:AKBA) Rating Lowered to Sell at Wall Street Zen

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Monday, Wall Street Zen reports.

AKBA has been the subject of several other reports. Leerink Partners lowered Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price objective for the company. in a report on Friday, August 7th. BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, September 15th. HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th. Westpark Capital began coverage on Akebia Therapeutics in a research report on Tuesday, September 8th. They issued a “buy” rating and a $4.50 target price on the stock. Finally, Weiss Ratings lowered Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Akebia Therapeutics has an average rating of “Hold” and an average target price of $3.90.

Akebia Therapeutics Trading Up 1.7%

AKBA stock opened at $0.54 on Monday. Akebia Therapeutics has a 12-month low of $0.36 and a 12-month high of $1.89. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $0.80 and a two-hundred day moving average of $1.12.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Akebia Therapeutics had a negative net margin of 22.60% and a negative return on equity of 156.59%. The company had revenue of $36.90 million during the quarter, compared to analyst estimates of $46.94 million. As a group, research analysts predict that Akebia Therapeutics will post -0.17 EPS for the current year.

Institutional Trading of Akebia Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC increased its stake in shares of Akebia Therapeutics by 59.7% during the 3rd quarter. Ieq Capital LLC now owns 147,574 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 55,195 shares during the last quarter. Virtus Advisers LLC lifted its stake in shares of Akebia Therapeutics by 16.1% in the 3rd quarter. Virtus Advisers LLC now owns 366,672 shares of the biopharmaceutical company’s stock valued at $337,000 after purchasing an additional 50,935 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Akebia Therapeutics by 33.7% in the 3rd quarter. Alps Advisors Inc. now owns 364,094 shares of the biopharmaceutical company’s stock valued at $335,000 after purchasing an additional 91,832 shares during the last quarter. State of Wyoming lifted its stake in shares of Akebia Therapeutics by 1,090.7% in the 3rd quarter. State of Wyoming now owns 192,008 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 175,883 shares during the last quarter. Finally, PFG Private Wealth Management LLC bought a new stake in Akebia Therapeutics in the third quarter worth $34,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

About Akebia Therapeutics

Akebia Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism. Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.