Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Lowered by StockNews.com

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Monday.

Separately, HC Wainwright raised their price objective on 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 Price Performance

Shares of NASDAQ AKBA traded down $0.02 during trading hours on Monday, hitting $1.32. 1,933,401 shares of the stock were exchanged, compared to its average volume of 4,212,902. The firm has a market capitalization of $276.37 million, a P/E ratio of -4.71 and a beta of 0.79. Akebia Therapeutics has a one year low of $0.78 and a one year high of $2.48. The company's 50 day moving average is $1.58 and its 200 day moving average is $1.34.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, meeting analysts' consensus estimates 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 period last year, the company earned ($0.04) earnings per share. Research analysts anticipate that Akebia Therapeutics will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, CEO John P. Butler sold 46,489 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $78,101.52. Following the transaction, the chief executive officer now directly owns 2,128,883 shares in the company, valued at $3,576,523.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO John P. Butler sold 46,489 shares of Akebia Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $78,101.52. Following the completion of the transaction, the chief executive officer now directly owns 2,128,883 shares of the company's stock, valued at $3,576,523.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John P. Butler sold 37,733 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $1.52, for a total transaction of $57,354.16. Following the sale, the chief executive officer now directly owns 2,091,150 shares in the company, valued at approximately $3,178,548. The disclosure for this sale can be found here. Insiders have sold a total of 187,893 shares of company stock valued at $300,598 in the last 90 days. 3.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akebia Therapeutics

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Akebia Therapeutics during the first quarter worth about $1,447,000. Sapient Capital LLC acquired a new position in shares of Akebia Therapeutics in the 4th quarter valued at $248,000. Citigroup Inc. increased its position in shares of Akebia Therapeutics by 311,608.2% in the 3rd quarter. Citigroup Inc. now owns 152,737 shares of the biopharmaceutical company's stock valued at $174,000 after buying an additional 152,688 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Akebia Therapeutics by 14.1% during the third quarter. Victory Capital Management Inc. now owns 755,488 shares of the biopharmaceutical company's stock worth $861,000 after acquiring an additional 93,590 shares in the last quarter. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Akebia Therapeutics in the first quarter worth about $51,000. Institutional investors and hedge funds own 33.92% of the company's stock.

Akebia Therapeutics Company Profile

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.

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