Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report released on Wednesday.
Several other analysts have also commented on AKBA. HC Wainwright reaffirmed a "buy" rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday, March 14th. Jefferies Financial Group initiated coverage on Akebia Therapeutics in a research note on Tuesday, April 1st. They set a "buy" rating and a $6.00 price target for the company. Finally, Piper Sandler increased their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th.
Check Out Our Latest Research Report on Akebia Therapeutics
Akebia Therapeutics Stock Performance
NASDAQ:AKBA traded down $0.02 on Wednesday, hitting $1.76. The stock had a trading volume of 2,571,756 shares, compared to its average volume of 2,739,243. Akebia Therapeutics has a 1 year low of $0.80 and a 1 year high of $2.89. The firm's fifty day simple moving average is $2.04 and its two-hundred day simple moving average is $1.86. The stock has a market cap of $414.59 million, a P/E ratio of -7.63 and a beta of 0.87.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The company had revenue of $46.50 million during the quarter, compared to the consensus estimate of $37.36 million. Equities research analysts predict that Akebia Therapeutics will post -0.3 EPS for the current year.
Insider Activity
In other news, CEO John P. Butler sold 144,250 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $302,925.00. Following the transaction, the chief executive officer now directly owns 2,604,330 shares in the company, valued at approximately $5,469,093. This represents a 5.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Malabre sold 30,202 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $63,424.20. Following the completion of the sale, the chief accounting officer now directly owns 280,248 shares of the company's stock, valued at $588,520.80. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,579 shares of company stock worth $589,216. 4.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Akebia Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of AKBA. SRS Capital Advisors Inc. purchased a new position in Akebia Therapeutics in the 4th quarter worth approximately $26,000. PDS Planning Inc bought a new position in shares of Akebia Therapeutics during the fourth quarter valued at approximately $28,000. Mariner LLC purchased a new stake in shares of Akebia Therapeutics in the 4th quarter worth about $28,000. Cibc World Markets Corp bought a new stake in Akebia Therapeutics during the 4th quarter valued at approximately $37,000. Finally, Aquatic Capital Management LLC purchased a new stake in Akebia Therapeutics in the fourth quarter worth $47,000. Institutional investors own 33.92% of the company's stock.
About Akebia Therapeutics
(
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.
Read More
Before you consider Akebia Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Akebia Therapeutics wasn't on the list.
While Akebia Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
