Akebia Therapeutics (NASDAQ:AKBA) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Akebia Therapeutics from “sell” to “hold.” Analyst sentiment remains mixed, with four Buy ratings, two Hold ratings, and one Sell rating; the consensus target price is $3.90.
• Akebia shares opened at $0.71, near the lower end of their $0.54–$2.23 one-year range, with a market capitalization of approximately $195.8 million.
• The company exceeded quarterly expectations, reporting a loss of $0.02 per share versus the expected $0.04 loss and revenue of $49.13 million versus the $48.85 million consensus estimate.

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

A number of other analysts have also commented on the stock. Leerink Partners lowered shares of Akebia Therapeutics from an "outperform" rating to a "market perform" rating and set a $1.00 price target for the company. in a research note on Friday, August 7th. HC Wainwright reaffirmed a "buy" rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th. BTIG Research reiterated a "buy" rating and set a $4.00 price objective on shares of Akebia Therapeutics in a report on Tuesday, September 15th. Weiss Ratings downgraded shares of Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 2nd. Finally, Westpark Capital began coverage on shares of Akebia Therapeutics in a research report on Tuesday, September 8th. They set a "buy" rating and a $4.50 target price for the company. 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 stock. According to data from MarketBeat, Akebia Therapeutics presently has an average rating of "Hold" and a consensus target price of $3.90.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $0.71 on Friday. 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 firm's fifty day moving average price is $0.85 and its two-hundred day moving average price is $1.15. Akebia Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.23. The firm has a market capitalization of $195.78 million, a P/E ratio of -6.42 and a beta of 0.18.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. The company had revenue of $49.13 million during the quarter, compared to the consensus estimate of $48.85 million. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. As a group, research analysts anticipate that Akebia Therapeutics will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. State of Wyoming grew its position in Akebia Therapeutics by 1,090.7% during the third quarter. State of Wyoming now owns 192,008 shares of the biopharmaceutical company's stock worth $177,000 after buying an additional 175,883 shares in the last quarter. PFG Private Wealth Management LLC bought a new position in Akebia Therapeutics in the 3rd quarter worth about $34,000. Headlands Technologies LLC raised its holdings in shares of Akebia Therapeutics by 60.3% in the 2nd quarter. Headlands Technologies LLC now owns 77,992 shares of the biopharmaceutical company's stock valued at $89,000 after acquiring an additional 29,334 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at about $46,000. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at about $2,280,000. 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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