Akebia Therapeutics (NASDAQ:AKBA) Upgraded at StockNews.com

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a report released on Friday morning.

Separately, HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Wednesday, October 23rd.

Akebia Therapeutics Trading Up 1.6 %

Shares of Akebia Therapeutics stock opened at $1.85 on Friday. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48. The stock has a 50 day moving average of $1.75 and a 200 day moving average of $1.43. The firm has a market cap of $403.63 million, a PE ratio of -8.04 and a beta of 0.70.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, equities research analysts forecast that Akebia Therapeutics will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Akebia Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after acquiring an additional 218,172 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Akebia Therapeutics by 7.2% during the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after purchasing an additional 262,700 shares in the last quarter. State Street Corp boosted its position in Akebia Therapeutics by 24.9% during the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after acquiring an additional 683,287 shares in the last quarter. FMR LLC increased its holdings in shares of Akebia Therapeutics by 26.0% in the 3rd quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock valued at $900,000 after acquiring an additional 140,529 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Akebia Therapeutics by 3,122.2% during the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 585,789 shares in the last quarter. Institutional investors 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.