Akebia Therapeutics (NASDAQ:AKBA) Receives New Coverage from Analysts at StockNews.com

Posted by on May 23rd, 2022

StockNews.com started coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a report released on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

AKBA has been the subject of several other reports. Piper Sandler cut Akebia Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a report on Wednesday, March 30th. Cantor Fitzgerald lowered Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a report on Friday, April 1st. Needham & Company LLC downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. HC Wainwright dropped their price target on Akebia Therapeutics from $2.00 to $1.25 in a research note on Monday, May 16th. Finally, Mizuho downgraded Akebia Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $6.00 to $2.00 in a research note on Thursday, March 31st. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.44.

NASDAQ:AKBA opened at $0.33 on Monday. The stock has a market cap of $60.60 million, a P/E ratio of -0.21 and a beta of 1.56. The stock has a 50 day simple moving average of $0.95 and a 200 day simple moving average of $1.85. Akebia Therapeutics has a 1-year low of $0.31 and a 1-year high of $4.33.

Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last released its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.06). Akebia Therapeutics had a negative return on equity of 266.13% and a negative net margin of 123.64%. During the same period last year, the firm earned ($0.45) EPS. As a group, equities research analysts predict that Akebia Therapeutics will post -0.82 earnings per share for the current fiscal year.

In other news, CEO John P. Butler sold 25,053 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $2.15, for a total value of $53,863.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 43,757 shares of company stock valued at $94,094 in the last ninety days. 2.54% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in shares of Akebia Therapeutics in the 4th quarter worth $30,000. D. E. Shaw & Co. Inc. purchased a new stake in Akebia Therapeutics in the 4th quarter valued at $33,000. Janus Henderson Group PLC purchased a new stake in Akebia Therapeutics in the 3rd quarter valued at $42,000. Mackenzie Financial Corp purchased a new stake in Akebia Therapeutics in the 4th quarter valued at $48,000. Finally, Two Sigma Securities LLC purchased a new stake in Akebia Therapeutics in the 3rd quarter valued at $62,000. Institutional investors and hedge funds own 55.34% of the company’s stock.

About Akebia Therapeutics (Get Rating)

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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

Featured Stories

Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

Want More Great Investing Ideas?

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.