Zacks Investment Research cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a buy rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “
Several other research firms have also recently issued reports on AKBA. Piper Jaffray Companies initiated coverage on Akebia Therapeutics in a report on Monday, December 18th. They issued an overweight rating and a $26.00 price target on the stock. Mizuho restated a buy rating and set a $24.00 target price on shares of Akebia Therapeutics in a report on Thursday, November 9th. ValuEngine cut Akebia Therapeutics from a hold rating to a sell rating in a report on Friday, December 1st. Royal Bank of Canada restated an outperform rating and set a $28.00 target price on shares of Akebia Therapeutics in a report on Saturday, September 16th. Finally, BTIG Research began coverage on Akebia Therapeutics in a report on Thursday, December 7th. They set a buy rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $22.20.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.07. The business had revenue of $41.28 million for the quarter, compared to analysts’ expectations of $34.00 million. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. sell-side analysts anticipate that Akebia Therapeutics will post -2.25 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC bought a new position in Akebia Therapeutics during the third quarter worth about $844,000. Perceptive Advisors LLC raised its position in shares of Akebia Therapeutics by 48.2% during the third quarter. Perceptive Advisors LLC now owns 1,630,000 shares of the biopharmaceutical company’s stock worth $32,062,000 after purchasing an additional 530,000 shares during the period. Caxton Associates LP acquired a new stake in shares of Akebia Therapeutics during the third quarter worth about $246,000. Allianz Asset Management GmbH acquired a new stake in shares of Akebia Therapeutics during the third quarter worth about $933,000. Finally, California State Teachers Retirement System raised its position in shares of Akebia Therapeutics by 9.6% during the third quarter. California State Teachers Retirement System now owns 71,586 shares of the biopharmaceutical company’s stock worth $1,408,000 after purchasing an additional 6,244 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.