StockNews.com Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Hold

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

Separately, HC Wainwright upped their target price on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, March 28th.

Akebia Therapeutics Trading Down 1.9 %

NASDAQ AKBA traded down $0.03 during trading on Thursday, hitting $1.53. The company had a trading volume of 3,139,775 shares, compared to its average volume of 4,461,939. Akebia Therapeutics has a one year low of $0.59 and a one year high of $2.48. The company has a market cap of $320.34 million, a price-to-earnings ratio of -5.46 and a beta of 0.79. The company's fifty day moving average is $1.63 and its 200-day moving average is $1.32.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same quarter last year, the company posted ($0.04) earnings per share. As a group, equities analysts anticipate that Akebia Therapeutics will post -0.28 EPS for the current year.

Insider Transactions at Akebia Therapeutics

In other news, CEO John P. Butler sold 46,570 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $1.58, for a total value of $73,580.60. Following the sale, the chief executive officer now directly owns 2,044,580 shares of the company's stock, valued at approximately $3,230,436.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John P. Butler sold 46,489 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total transaction of $78,101.52. Following the sale, the chief executive officer now directly owns 2,128,883 shares of the company's stock, valued at approximately $3,576,523.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John P. Butler sold 46,570 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the sale, the chief executive officer now directly owns 2,044,580 shares in the company, valued at $3,230,436.40. The disclosure for this sale can be found here. Insiders have sold 187,893 shares of company stock valued at $300,598 in the last three months. 3.84% of the stock is currently owned by company insiders.

Institutional Trading of Akebia Therapeutics

Institutional investors have recently bought and sold shares of the company. Eagle Wealth Strategies LLC bought a new stake in shares of Akebia Therapeutics in the fourth quarter worth approximately $25,000. Archer Investment Corp bought a new stake in shares of Akebia Therapeutics in the fourth quarter worth approximately $25,000. Mackenzie Financial Corp grew its stake in shares of Akebia Therapeutics by 37.6% in the fourth quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 6,330 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Akebia Therapeutics by 123.7% in the second quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 50,066 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Akebia Therapeutics by 48.0% in the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company's stock worth $37,000 after acquiring an additional 9,696 shares during the period. 33.92% of the stock is owned by hedge funds and other institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.