Akebia Therapeutics (NASDAQ:AKBA) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Akebia Therapeutics from “hold” to “sell,” although analysts remain divided. The consensus rating is “hold,” with four buys, two holds and one sell, and an average price target of $3.90.
• AKBA opened at $0.57, near its 12-month low of $0.54 and well below its 12-month high of $3.20. The stock’s 50-day and 200-day moving averages were $0.87 and $1.08, respectively.
• Akebia slightly exceeded quarterly expectations, reporting a loss of $0.02 per share versus the projected $0.04 loss and revenue of $49.13 million. However, the company continued to report a negative net margin and return on equity, while institutional investors owned 33.92% of shares.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on AKBA. Westpark Capital assumed coverage on shares of Akebia Therapeutics in a research report on Tuesday, September 8th. They issued a "buy" rating and a $4.50 target price for the company. Zacks Research raised shares of Akebia Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Leerink Partners cut shares of Akebia Therapeutics from an "outperform" rating to a "market perform" rating and set a $1.00 price target on the stock. in a research note on Friday, August 7th. Weiss Ratings downgraded Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Finally, BTIG Research restated a "buy" rating and set a $4.00 price target on shares of Akebia Therapeutics in a report on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.90.

Akebia Therapeutics Trading Up 0.8%

NASDAQ AKBA opened at $0.57 on Friday. Akebia Therapeutics has a 12 month low of $0.54 and a 12 month high of $3.20. The company has a current ratio of 1.43, a quick ratio of 1.35 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $0.87 and a 200 day simple moving average of $1.08.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. Akebia Therapeutics had a negative return on equity of 88.88% and a negative net margin of 13.54%. The firm had revenue of $49.13 million during the quarter, compared to analysts' expectations of $48.85 million. On average, analysts expect that Akebia Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

A number of institutional investors have recently bought and sold shares of AKBA. BlackRock Inc. purchased a new stake in Akebia Therapeutics during the 2nd quarter valued at approximately $22,784,000. Bank of America Corp DE lifted its stake in Akebia Therapeutics by 22.4% in the 1st quarter. Bank of America Corp DE now owns 2,763,362 shares of the biopharmaceutical company's stock valued at $3,841,000 after buying an additional 505,951 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $2,280,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Akebia Therapeutics by 32.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 839,729 shares of the biopharmaceutical company's stock worth $957,000 after purchasing an additional 206,476 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Akebia Therapeutics during the 2nd quarter valued at $706,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company's primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism.

Akebia's key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body's natural production of erythropoietin and support red blood cell formation.

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