Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a research note published on Sunday morning,Wall Street Zen reports.

A number of other analysts have also weighed in on the stock. Leerink Partners lowered shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price target for the company. in a research note on Friday, August 7th. Zacks Research raised shares of Akebia Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th. Weiss Ratings lowered Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Finally, Westpark Capital began coverage on Akebia Therapeutics in a report on Tuesday, September 8th. They issued a “buy” rating and a $4.50 target price for the company. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Akebia Therapeutics has a consensus rating of “Hold” and an average price target of $3.90.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $0.71 on Friday. Akebia Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.23. The company has a market capitalization of $195.78 million, a price-to-earnings ratio of -6.42 and a beta of 0.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.35 and a current ratio of 1.43. The company’s 50 day simple moving average is $0.85 and its 200 day simple moving average is $1.15.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $49.13 million during the quarter, compared to the consensus estimate of $48.85 million. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. On average, sell-side analysts predict that Akebia Therapeutics will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors have recently bought and sold shares of the stock. State of Wyoming grew its position in shares of Akebia Therapeutics by 1,090.7% in the third 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. PFG Private Wealth Management LLC purchased a new stake in Akebia Therapeutics in the third quarter worth $34,000. Headlands Technologies LLC raised its stake in shares of Akebia Therapeutics by 60.3% in the second quarter. Headlands Technologies LLC now owns 77,992 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 29,334 shares during the period. Two Sigma Securities LLC purchased a new position in Akebia Therapeutics in the 2nd quarter worth about $46,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Akebia Therapeutics in the 2nd quarter valued at $2,280,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

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.