StockNews.com initiated coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a research report report published on Sunday morning. The brokerage issued a hold rating on the biopharmaceutical company's stock.
Separately, HC Wainwright cut their price objective on shares of Akebia Therapeutics from $2.00 to $1.25 in a research report on Monday, May 16th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, Akebia Therapeutics currently has an average rating of Hold and an average target price of $1.75.
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Akebia Therapeutics Stock Performance
NASDAQ AKBA opened at $0.38 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $0.40 and a 200 day simple moving average of $0.85. Akebia Therapeutics has a twelve month low of $0.30 and a twelve month high of $3.35.
Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.54. The firm had revenue of $126.76 million during the quarter, compared to analysts' expectations of $49.10 million. Akebia Therapeutics had a negative net
margin of 55.04% and a negative return on equity of 197.12%. During the same quarter last year, the company earned ($0.51) earnings per share. As a group, research analysts forecast that Akebia Therapeutics will post -0.44 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in AKBA. Point72 Hong Kong Ltd bought a new position in Akebia Therapeutics during the 4th quarter valued at about $30,000. BNP Paribas Arbitrage SA increased its holdings in Akebia Therapeutics by 123.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 50,066 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Akebia Therapeutics during the 1st quarter valued at approximately $39,000. Mirabella Financial Services LLP purchased a new stake in Akebia Therapeutics during the 1st quarter valued at approximately $40,000. Finally, MetLife Investment Management LLC grew its holdings in Akebia Therapeutics by 176.6% during the 1st quarter. MetLife Investment Management LLC now owns 85,186 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 54,389 shares in the last quarter. 31.56% of the stock is owned by hedge funds and other institutional investors.
About Akebia Therapeutics
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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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.
Further Reading
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