Analysts at StockNews.com assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a research report issued on Tuesday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.
Akebia Therapeutics Stock Down 5.4 %
Akebia Therapeutics stock opened at $0.36 on Tuesday. Akebia Therapeutics has a 1-year low of $0.30 and a 1-year high of $3.35. The firm has a market capitalization of $67.09 million, a price-to-earnings ratio of -0.39 and a beta of 1.50. The firm's fifty day moving average price is $0.40 and its two-hundred day moving average price is $0.68. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.51.
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Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.31) by $0.54. The company had revenue of $126.76 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted ($0.51) earnings per share. On average, equities research analysts predict that Akebia Therapeutics will post -0.44 earnings per share for the current fiscal year.
Institutional Trading of Akebia Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in AKBA. Dimensional Fund Advisors LP raised its holdings in shares of Akebia Therapeutics by 23.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,593,841 shares of the biopharmaceutical company's stock valued at $5,862,000 after purchasing an additional 498,078 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Akebia Therapeutics by 37.2% in the fourth quarter. Teacher Retirement System of Texas now owns 32,286 shares of the biopharmaceutical company's stock valued at $73,000 after purchasing an additional 8,759 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Akebia Therapeutics during the fourth quarter worth about $30,000. Virtus ETF Advisers LLC increased its holdings in Akebia Therapeutics by 18.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 69,015 shares of the biopharmaceutical company's stock worth $156,000 after buying an additional 10,772 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Akebia Therapeutics during the first quarter worth about $75,000. Hedge funds and other institutional investors own 31.56% of the company's stock.
Akebia Therapeutics Company Profile
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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.
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