Akebia Therapeutics (NASDAQ:AKBA) Trading Down 6.2%

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Akebia Therapeutics Inc (NASDAQ:AKBA) traded down 6.2% during trading on Friday . The company traded as low as $11.07 and last traded at $11.17, 1,004,307 shares were traded during trading. A decline of 35% from the average session volume of 1,556,013 shares. The stock had previously closed at $11.91.

A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, July 13th. BidaskClub cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, July 11th. Needham & Company LLC initiated coverage on shares of Akebia Therapeutics in a research note on Monday, June 29th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Royal Bank of Canada lifted their price target on shares of Akebia Therapeutics from $8.00 to $12.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.57.

The business has a fifty day simple moving average of $12.22 and a two-hundred day simple moving average of $9.63. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.26.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.15. The company had revenue of $88.48 million for the quarter, compared to analyst estimates of $77.54 million. Akebia Therapeutics had a negative return on equity of 45.52% and a negative net margin of 76.39%. As a group, equities research analysts forecast that Akebia Therapeutics Inc will post -1.59 earnings per share for the current fiscal year.

In other news, insider Dell Faulkingham sold 6,426 shares of Akebia Therapeutics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $11.58, for a total transaction of $74,413.08. Following the transaction, the insider now owns 73,574 shares in the company, valued at approximately $851,986.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maxine Gowen sold 4,567 shares of Akebia Therapeutics stock in a transaction on Monday, June 8th. The stock was sold at an average price of $11.84, for a total value of $54,073.28. Company insiders own 2.55% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AKBA. Candriam Luxembourg S.C.A. purchased a new position in shares of Akebia Therapeutics during the 2nd quarter worth $16,695,000. Invesco Ltd. purchased a new stake in Akebia Therapeutics in the 1st quarter valued at about $8,605,000. Norges Bank purchased a new stake in Akebia Therapeutics in the 4th quarter valued at about $5,815,000. Wellington Management Group LLP raised its holdings in Akebia Therapeutics by 92.4% in the 1st quarter. Wellington Management Group LLP now owns 1,725,541 shares of the biopharmaceutical company’s stock valued at $13,080,000 after buying an additional 828,814 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Akebia Therapeutics by 142.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 748,386 shares of the biopharmaceutical company’s stock valued at $4,730,000 after buying an additional 439,972 shares during the period. Institutional investors and hedge funds own 70.08% of the company’s stock.

About Akebia Therapeutics (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

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