Akebia Therapeutics (NASDAQ:AKBA) Issues Earnings Results

Akebia Therapeutics (NASDAQ:AKBAGet Rating) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.06), MarketWatch Earnings reports. Akebia Therapeutics had a negative return on equity of 187.89% and a negative net margin of 132.43%. During the same quarter last year, the company posted ($0.45) earnings per share.

Shares of Akebia Therapeutics stock opened at $0.38 on Tuesday. The business has a 50-day simple moving average of $1.35 and a 200 day simple moving average of $2.02. Akebia Therapeutics has a one year low of $0.35 and a one year high of $4.33. The firm has a market capitalization of $69.76 million, a price-to-earnings ratio of -0.20 and a beta of 1.56.

In other Akebia Therapeutics news, CEO John P. Butler sold 25,053 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $2.15, for a total value of $53,863.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 43,757 shares of company stock worth $94,094. Corporate insiders own 2.54% of the company’s stock.

Several institutional investors have recently made changes to their positions in AKBA. Swiss National Bank boosted its holdings in Akebia Therapeutics by 7.8% in the 1st quarter. Swiss National Bank now owns 393,085 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 28,300 shares during the period. Barclays PLC raised its position in Akebia Therapeutics by 51.2% during the fourth quarter. Barclays PLC now owns 284,770 shares of the biopharmaceutical company’s stock valued at $643,000 after purchasing an additional 96,413 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Akebia Therapeutics by 0.5% during the 4th quarter. BlackRock Inc. now owns 14,124,215 shares of the biopharmaceutical company’s stock valued at $31,919,000 after buying an additional 71,728 shares in the last quarter. Wells Fargo & Company MN lifted its position in Akebia Therapeutics by 138.6% in the 4th quarter. Wells Fargo & Company MN now owns 347,953 shares of the biopharmaceutical company’s stock worth $787,000 after buying an additional 202,143 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Akebia Therapeutics by 317.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,147,163 shares of the biopharmaceutical company’s stock worth $4,852,000 after buying an additional 1,632,905 shares in the last quarter. 55.34% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on AKBA shares. BTIG Research downgraded shares of Akebia Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $0.50 price objective on the stock in a research note on Monday. Needham & Company LLC cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. Piper Sandler lowered Akebia Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $2.00 in a research note on Wednesday, March 30th. Finally, Cantor Fitzgerald downgraded shares of Akebia Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Friday, April 1st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.63.

Akebia Therapeutics Company Profile (Get Rating)

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.

Featured Articles

Earnings History for Akebia Therapeutics (NASDAQ:AKBA)

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.