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

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, HC Wainwright increased their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, March 28th.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock opened at $1.26 on Monday. Akebia Therapeutics has a 1 year low of $0.78 and a 1 year high of $2.48. The company has a market capitalization of $263.81 million, a P/E ratio of -4.50 and a beta of 0.79. The business has a 50-day moving average of $1.57 and a two-hundred day moving average of $1.35.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $56.20 million for the quarter, compared to analyst estimates of $55.64 million. During the same quarter last year, the business posted ($0.04) earnings per share. On average, equities analysts anticipate that Akebia Therapeutics will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at Akebia Therapeutics

In other news, CEO John P. Butler sold 46,489 shares of the firm’s 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 owns 2,128,883 shares in the company, valued at approximately $3,576,523.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Steven Keith Burke sold 24,311 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 transaction of $40,842.48. Following the transaction, the senior vice president now directly owns 711,376 shares in the company, valued at approximately $1,195,111.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John P. Butler sold 46,489 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total transaction of $78,101.52. Following the completion of the sale, the chief executive officer now owns 2,128,883 shares of the company’s stock, valued at $3,576,523.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,893 shares of company stock worth $300,598. Insiders own 3.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Archer Investment Corp bought a new stake in shares of Akebia Therapeutics during the 4th quarter worth about $25,000. Eagle Wealth Strategies LLC acquired a new stake in Akebia Therapeutics during the 4th quarter worth approximately $25,000. Mackenzie Financial Corp grew its holdings in Akebia Therapeutics by 37.6% in the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 6,330 shares in the last quarter. Compass Ion Advisors LLC acquired a new stake in shares of Akebia Therapeutics during the first quarter worth $46,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Akebia Therapeutics in the first quarter valued at about $51,000. 33.92% of the stock is currently owned by institutional investors.

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.