Akebia Therapeutics (NASDAQ:AKBA) Rating Lowered to Hold at StockNews.com

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, HC Wainwright boosted their price target on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, March 28th.

Akebia Therapeutics Trading Down 4.5 %

NASDAQ AKBA opened at $1.26 on Monday. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48. The firm has a market capitalization of $263.81 million, a P/E ratio of -4.50 and a beta of 0.79. The business has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.35.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same period in the previous year, the company posted ($0.04) earnings per share. As a group, sell-side analysts predict that Akebia Therapeutics will post -0.28 EPS for the current fiscal year.

Insider Activity

In related news, SVP Steven Keith Burke sold 24,311 shares of Akebia Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $40,842.48. Following the completion of the sale, the senior vice president now owns 711,376 shares of the company’s stock, valued at approximately $1,195,111.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Steven Keith Burke sold 24,311 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $40,842.48. Following the completion of the transaction, the senior vice president now directly owns 711,376 shares of the company’s stock, valued at approximately $1,195,111.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John P. Butler sold 46,570 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the sale, the chief executive officer now directly owns 2,044,580 shares in the company, valued at approximately $3,230,436.40. The disclosure for this sale can be found here. Insiders have sold 187,893 shares of company stock valued at $300,598 in the last 90 days. Insiders own 3.84% of the company’s stock.

Institutional Investors Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Wealth Strategies LLC bought a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $25,000. Archer Investment Corp purchased a new stake in Akebia Therapeutics in the 4th quarter worth approximately $25,000. Mackenzie Financial Corp boosted its holdings in Akebia Therapeutics by 37.6% in the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 6,330 shares during the period. Raymond James & Associates grew its position in shares of Akebia Therapeutics by 48.0% during the 4th quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 9,696 shares in the last quarter. Finally, Compass Ion Advisors LLC bought a new position in shares of Akebia Therapeutics in the first quarter worth $46,000. 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.