Akebia Therapeutics (NASDAQ:AKBA) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Akebia Therapeutics from “hold” to “sell.” Analyst views remain mixed: MarketBeat reports a consensus “hold” rating and a $3.90 average price target.
• Akebia reported quarterly EPS of -$0.04, in line with consensus, but revenue of $36.9 million fell short of analyst estimates of $46.94 million.
• Shares opened at $0.40, near the stock’s 12-month low of $0.36; the company reported a market capitalization of about $111 million.

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

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 2nd. BTIG Research restated a "buy" rating and issued a $4.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, September 15th. Leerink Partners cut Akebia Therapeutics from an "outperform" rating to a "market perform" rating and set a $1.00 price target on the stock. in a report on Friday, August 7th. HC Wainwright reiterated a "buy" rating on shares of Akebia Therapeutics in a research report on Thursday, August 6th. Finally, Westpark Capital started coverage on Akebia Therapeutics in a research report on Tuesday, September 8th. They set a "buy" rating and a $4.50 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Akebia Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $3.90.

Akebia Therapeutics Price Performance

Shares of AKBA opened at $0.40 on Monday. Akebia Therapeutics has a 12 month low of $0.36 and a 12 month high of $2.07. The company has a market cap of $111.20 million, a P/E ratio of -2.51 and a beta of 0.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.43 and a quick ratio of 1.35. The stock has a fifty day moving average price of $0.81 and a 200 day moving average price of $1.13.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Akebia Therapeutics had a negative net margin of 22.60% and a negative return on equity of 145.58%. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $46.94 million. On average, research analysts forecast that Akebia Therapeutics will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Akebia Therapeutics during the 2nd quarter valued at about $26,000. Hsbc Holdings PLC acquired a new stake in shares of Akebia Therapeutics in the 2nd quarter worth approximately $27,000. Legal & General Group Plc bought a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $30,000. PFG Private Wealth Management LLC bought a new position in shares of Akebia Therapeutics in the third quarter valued at approximately $34,000. Finally, Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 33.92% of the company's stock.

Akebia Therapeutics Company Profile

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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