Wall Street Zen Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Buy

by · The Cerbat Gem

Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also weighed in on AKBA. HC Wainwright initiated coverage on shares of Akebia Therapeutics in a research report on Wednesday, June 4th. They set a “buy” rating and a $8.00 price target on the stock. Zacks Research downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Akebia Therapeutics currently has an average rating of “Buy” and an average target price of $6.75.

Read Our Latest Analysis on Akebia Therapeutics

Akebia Therapeutics Stock Down 1.3%

AKBA opened at $2.95 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. The company’s 50-day moving average is $3.43 and its 200 day moving average is $2.89. Akebia Therapeutics has a fifty-two week low of $1.24 and a fifty-two week high of $4.08. The firm has a market capitalization of $782.16 million, a P/E ratio of -17.35 and a beta of 1.02.

Insider Transactions at Akebia Therapeutics

In related news, CFO Erik Ostrowski sold 41,314 shares of the firm’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $3.67, for a total transaction of $151,622.38. Following the completion of the sale, the chief financial officer owned 503,586 shares in the company, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

Several large investors have recently modified their holdings of AKBA. Baird Financial Group Inc. grew its stake in Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 4,000 shares in the last quarter. ProShare Advisors LLC grew its stake in Akebia Therapeutics by 9.4% during the second quarter. ProShare Advisors LLC now owns 51,266 shares of the biopharmaceutical company’s stock valued at $187,000 after acquiring an additional 4,388 shares in the last quarter. Legal & General Group Plc grew its stake in Akebia Therapeutics by 26.0% during the second quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,798 shares in the last quarter. PDS Planning Inc grew its stake in Akebia Therapeutics by 11.1% during the second quarter. PDS Planning Inc now owns 50,000 shares of the biopharmaceutical company’s stock valued at $182,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Akebia Therapeutics by 25.2% during the second quarter. Ameritas Investment Partners Inc. now owns 25,525 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 5,145 shares during the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

(Get Free Report)

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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