Akebia Therapeutics (AKBA) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other brokerages also recently commented on AKBA. Zacks Investment Research downgraded Akebia Therapeutics from a buy rating to a hold rating in a report on Tuesday, June 19th. BidaskClub downgraded Akebia Therapeutics from a strong-buy rating to a buy rating in a report on Monday, June 18th. Royal Bank of Canada restated a hold rating and set a $13.00 target price on shares of Akebia Therapeutics in a report on Thursday, August 9th. Morgan Stanley started coverage on Akebia Therapeutics in a report on Friday, September 7th. They set a weight rating for the company. Finally, Raymond James started coverage on Akebia Therapeutics in a research note on Monday, August 13th. They issued a buy rating and a $18.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $18.75.

Shares of Akebia Therapeutics stock opened at $8.28 on Friday. The company has a market cap of $472.33 million, a P/E ratio of -4.68 and a beta of 0.98. Akebia Therapeutics has a 52 week low of $7.32 and a 52 week high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.09). The business had revenue of $48.79 million for the quarter, compared to the consensus estimate of $48.75 million. Akebia Therapeutics had a negative net margin of 30.60% and a negative return on equity of 46.95%. research analysts expect that Akebia Therapeutics will post -2.7 EPS for the current year.

A number of hedge funds have recently modified their holdings of AKBA. American Century Companies Inc. grew its stake in Akebia Therapeutics by 41.9% in the first quarter. American Century Companies Inc. now owns 500,971 shares of the biopharmaceutical company’s stock worth $4,774,000 after purchasing an additional 147,860 shares during the period. Swiss National Bank grew its stake in Akebia Therapeutics by 21.5% in the first quarter. Swiss National Bank now owns 78,100 shares of the biopharmaceutical company’s stock worth $744,000 after purchasing an additional 13,800 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Akebia Therapeutics by 16.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,121 shares of the biopharmaceutical company’s stock worth $3,299,000 after purchasing an additional 49,990 shares during the period. Northern Trust Corp grew its stake in Akebia Therapeutics by 1.0% in the first quarter. Northern Trust Corp now owns 518,839 shares of the biopharmaceutical company’s stock worth $4,944,000 after purchasing an additional 5,383 shares during the period. Finally, BlackRock Inc. grew its stake in Akebia Therapeutics by 10.0% in the first quarter. BlackRock Inc. now owns 4,297,707 shares of the biopharmaceutical company’s stock worth $40,958,000 after purchasing an additional 392,201 shares during the period. 75.18% 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 novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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