Weiss Ratings Reiterates Sell (D-) Rating for Akebia Therapeutics (NASDAQ:AKBA)

Key Points

• Weiss Ratings has reiterated a Sell (D-) rating for Akebia Therapeutics, indicating a negative outlook on the company's stock performance.
• In addition to Weiss, Zacks Research and Wall Street Zen have recently downgraded their ratings for Akebia, moving from "strong-buy" to "hold" and "buy," respectively.
• As of Wednesday, Akebia's stock is trading at $2.86, with a market capitalization of approximately $756.97 million and a 1-year trading range between $1.25 and $4.08.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

AKBA has been the subject of several other reports. Zacks Research downgraded shares of Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Akebia Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.75.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA traded down $0.10 on Wednesday, hitting $2.86. 1,554,586 shares of the company were exchanged, compared to its average volume of 4,038,050. Akebia Therapeutics has a 1-year low of $1.25 and a 1-year high of $4.08. The stock's 50 day moving average price is $3.09 and its 200 day moving average price is $2.97. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $756.97 million, a P/E ratio of -16.79 and a beta of 0.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC purchased a new position in Akebia Therapeutics in the second quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Akebia Therapeutics during the second quarter worth about $59,000. Unified Investment Management increased its stake in shares of Akebia Therapeutics by 47.8% during the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 5,500 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Akebia Therapeutics during the second quarter worth about $62,000. Finally, Savant Capital LLC purchased a new stake in shares of Akebia Therapeutics during the second quarter worth about $69,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

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.

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