Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Upgraded by Zacks Investment Research
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. “
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Akebia Therapeutics in a research report on Monday, September 9th. Mizuho set a $16.00 price objective on shares of Akebia Therapeutics and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Akebia Therapeutics presently has a consensus rating of “Hold” and an average target price of $12.45.
Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $100.80 million during the quarter, compared to analyst estimates of $88.35 million. Akebia Therapeutics had a negative net margin of 75.64% and a negative return on equity of 36.92%. As a group, equities analysts forecast that Akebia Therapeutics will post -1.41 EPS for the current year.
A number of hedge funds have recently modified their holdings of AKBA. BlackRock Inc. increased its position in Akebia Therapeutics by 20.6% during the second quarter. BlackRock Inc. now owns 10,227,690 shares of the biopharmaceutical company’s stock worth $49,501,000 after purchasing an additional 1,745,307 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Akebia Therapeutics during the second quarter worth approximately $7,885,000. Point72 Asset Management L.P. increased its position in Akebia Therapeutics by 1,523.4% during the second quarter. Point72 Asset Management L.P. now owns 1,623,400 shares of the biopharmaceutical company’s stock worth $7,857,000 after purchasing an additional 1,523,400 shares during the last quarter. Man Group plc increased its position in Akebia Therapeutics by 58.8% during the second quarter. Man Group plc now owns 934,650 shares of the biopharmaceutical company’s stock worth $4,524,000 after purchasing an additional 346,242 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its position in Akebia Therapeutics by 64.2% during the second quarter. Sofinnova Investments Inc. now owns 848,356 shares of the biopharmaceutical company’s stock worth $4,106,000 after purchasing an additional 331,595 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.
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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