ValuEngine cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a report issued on Tuesday morning, ValuEngine reports.

AKBA has been the subject of a number of other reports. Zacks Investment Research lowered Akebia Therapeutics from a buy rating to a hold rating in a report on Monday, February 11th. JPMorgan Chase & Co. initiated coverage on Akebia Therapeutics in a report on Thursday, May 2nd. They issued an overweight rating and a $12.00 target price for the company. Citigroup initiated coverage on Akebia Therapeutics in a report on Wednesday, March 20th. They issued a neutral rating and a $9.00 target price for the company. Finally, BidaskClub upgraded Akebia Therapeutics from a strong sell rating to a sell rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $13.03.

AKBA opened at $4.16 on Tuesday. Akebia Therapeutics has a 52 week low of $4.12 and a 52 week high of $11.60. The firm has a market cap of $506.80 million, a PE ratio of -1.70 and a beta of 1.51. The company has a quick ratio of 1.15, a current ratio of 1.71 and a debt-to-equity ratio of 0.06.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The firm had revenue of $72.67 million for the quarter, compared to analysts’ expectations of $83.69 million. Akebia Therapeutics had a negative return on equity of 45.06% and a negative net margin of 82.14%. Equities research analysts predict that Akebia Therapeutics will post -1.39 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in AKBA. The Manufacturers Life Insurance Company lifted its holdings in Akebia Therapeutics by 3.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 57,669 shares of the biopharmaceutical company’s stock worth $472,000 after buying an additional 1,991 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in Akebia Therapeutics by 5.9% during the 4th quarter. MetLife Investment Advisors LLC now owns 40,608 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 2,250 shares during the last quarter. Strs Ohio lifted its holdings in Akebia Therapeutics by 5.4% during the 1st quarter. Strs Ohio now owns 45,100 shares of the biopharmaceutical company’s stock worth $369,000 after buying an additional 2,300 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in Akebia Therapeutics by 18.2% during the 1st quarter. Virginia Retirement Systems ET AL now owns 16,200 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 2,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Akebia Therapeutics by 57.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,812 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,835 shares during the last quarter. Hedge funds and other institutional investors own 70.62% 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. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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