Akebia Therapeutics (AKBA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a buy rating to a hold rating in a research report report published on Monday morning.

According to Zacks, “Akebia Therapeutics Inc. is a biopharmaceutical company. It focuses on the development and commercialization of proprietary therapeutics based on hypoxia inducible factor biology for patients with kidney disease. Akebia Therapeutics, Inc. is headquartered in Cambridge, Massachusetts. “

Several other research analysts have also recently issued reports on AKBA. BidaskClub upgraded shares of Akebia Therapeutics from a strong sell rating to a sell rating in a report on Saturday, November 10th. ValuEngine cut shares of Akebia Therapeutics from a buy rating to a hold rating in a report on Tuesday, December 18th. Finally, Mizuho restated a buy rating and issued a $17.00 target price on shares of Akebia Therapeutics in a report on Tuesday, December 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $14.86.

Shares of Akebia Therapeutics stock opened at $6.45 on Monday. Akebia Therapeutics has a 52-week low of $5.20 and a 52-week high of $15.37. The company has a market capitalization of $378.87 million, a PE ratio of -3.64 and a beta of 1.35.

Several institutional investors have recently modified their holdings of AKBA. Baupost Group LLC MA purchased a new stake in Akebia Therapeutics in the fourth quarter worth $135,327,000. BlackRock Inc. lifted its stake in Akebia Therapeutics by 57.5% in the fourth quarter. BlackRock Inc. now owns 8,296,503 shares of the biopharmaceutical company’s stock worth $45,881,000 after acquiring an additional 3,027,657 shares during the period. Perceptive Advisors LLC lifted its stake in Akebia Therapeutics by 10.6% in the third quarter. Perceptive Advisors LLC now owns 2,449,521 shares of the biopharmaceutical company’s stock worth $21,629,000 after acquiring an additional 234,121 shares during the period. Morgan Stanley lifted its stake in Akebia Therapeutics by 35.7% in the third quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after acquiring an additional 496,069 shares during the period. Finally, Abrams Capital Management L.P. purchased a new stake in Akebia Therapeutics in the third quarter worth $9,883,000. Hedge funds and other institutional investors own 71.03% of the company’s stock.

Akebia Therapeutics Company Profile

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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