Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Upgraded by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

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

Akebia Therapeutics Price Performance

Shares of AKBA opened at $1.79 on Tuesday. The firm has a 50-day simple moving average of $1.90 and a two-hundred day simple moving average of $1.53. The stock has a market cap of $390.54 million, a PE ratio of -7.78 and a beta of 0.72. Akebia Therapeutics has a 1-year low of $0.80 and a 1-year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 earned ($0.08) EPS. As a group, sell-side analysts expect that Akebia Therapeutics will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in Akebia Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock valued at $6,277,000 after buying an additional 218,172 shares during the period. Renaissance Technologies LLC boosted its holdings in Akebia Therapeutics by 7.2% in the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after purchasing an additional 262,700 shares during the period. State Street Corp grew its stake in Akebia Therapeutics by 24.9% during 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 in the last quarter. FMR LLC grew its stake in Akebia Therapeutics by 26.0% during the 3rd quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock worth $900,000 after purchasing an additional 140,529 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Akebia Therapeutics by 3,122.2% during the 2nd 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 during the period. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.