Akebia Therapeutics Inc (NASDAQ:AKBA) reached a new 52-week low on Friday . The company traded as low as $7.32 and last traded at $7.65, with a volume of 6981 shares trading hands. The stock had previously closed at $7.40.

AKBA has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Akebia Therapeutics in a research report on Monday, August 13th. They issued a “buy” rating and a $18.00 price target for the company. Royal Bank of Canada reiterated a “hold” rating and issued a $13.00 price target on shares of Akebia Therapeutics in a research report on Thursday, August 9th. Needham & Company LLC dropped their price target on shares of Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 10th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Akebia Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $18.75.

The company has a market cap of $435.82 million, a PE ratio of -4.18 and a beta of 0.98.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.09). The firm had revenue of $48.79 million during the quarter, compared to the consensus estimate of $48.75 million. Akebia Therapeutics had a negative net margin of 30.60% and a negative return on equity of 46.95%. sell-side analysts expect that Akebia Therapeutics Inc will post -2.7 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Akebia Therapeutics by 16.7% in the second quarter. BlackRock Inc. now owns 5,015,035 shares of the biopharmaceutical company’s stock worth $50,050,000 after purchasing an additional 717,328 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Akebia Therapeutics by 3.6% in the second quarter. Eagle Asset Management Inc. now owns 2,824,403 shares of the biopharmaceutical company’s stock valued at $28,187,000 after buying an additional 98,832 shares during the period. DAFNA Capital Management LLC lifted its holdings in Akebia Therapeutics by 349.9% in the first quarter. DAFNA Capital Management LLC now owns 610,738 shares of the biopharmaceutical company’s stock valued at $5,820,000 after buying an additional 475,000 shares during the period. Marshall Wace LLP lifted its holdings in Akebia Therapeutics by 129.7% in the second quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock valued at $5,382,000 after buying an additional 304,490 shares during the period. Finally, Northern Trust Corp lifted its holdings in Akebia Therapeutics by 1.0% in the first quarter. Northern Trust Corp now owns 518,839 shares of the biopharmaceutical company’s stock valued at $4,944,000 after buying an additional 5,383 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Akebia Therapeutics Company Profile (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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