Akebia Therapeutics (AKBA) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Akebia Therapeutics (NASDAQ:AKBA) from a buy rating to a hold rating in a report issued on Monday.

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. “

Several other equities analysts have also issued reports on the company. BidaskClub raised Akebia Therapeutics from a strong sell rating to a sell rating in a research report on Thursday, February 7th. ValuEngine lowered Akebia Therapeutics from a hold rating to a sell rating in a research report on Tuesday, January 22nd. Finally, Mizuho reaffirmed a buy rating and issued a $17.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $14.86.

AKBA opened at $6.45 on Monday. The stock has a market capitalization of $378.87 million, a PE ratio of -3.64 and a beta of 1.35. Akebia Therapeutics has a 1 year low of $5.20 and a 1 year high of $15.37.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKBA. Baupost Group LLC MA bought a new stake in Akebia Therapeutics in the 4th quarter worth about $135,327,000. BlackRock Inc. increased its holdings in Akebia Therapeutics by 57.5% in the 4th quarter. BlackRock Inc. now owns 8,296,503 shares of the biopharmaceutical company’s stock worth $45,881,000 after buying an additional 3,027,657 shares in the last quarter. Abrams Capital Management L.P. bought a new stake in Akebia Therapeutics in the 3rd quarter worth about $9,883,000. Clearbridge Investments LLC increased its holdings in Akebia Therapeutics by 787,904.7% in the 3rd quarter. Clearbridge Investments LLC now owns 1,016,526 shares of the biopharmaceutical company’s stock worth $8,976,000 after buying an additional 1,016,397 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Akebia Therapeutics by 35.7% in the 3rd quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after buying an additional 496,069 shares in the last quarter. Institutional investors own 71.03% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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