Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report)’s stock price was down 4.4% during trading on Thursday . The company traded as low as $2.31 and last traded at $2.29. 801,028 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 2,672,856 shares. The stock had previously closed at $2.39.
Analyst Ratings Changes
A number of research analysts recently weighed in on AKBA shares. StockNews.com lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday.
Check Out Our Latest Research Report on Akebia Therapeutics
Akebia Therapeutics Stock Down 0.4 %
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the prior year, the company earned ($0.08) EPS. As a group, research analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.
Institutional Trading of Akebia Therapeutics
Large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV lifted its holdings in Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the third quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics in the 2nd quarter worth approximately $44,000. XTX Topco Ltd acquired a new position in Akebia Therapeutics in the 3rd quarter valued at $58,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Akebia Therapeutics in the third quarter valued at $59,000. Institutional investors and hedge funds own 33.92% of the company’s stock.
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.
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