Q2 2023 Earnings Estimate for Akebia Therapeutics, Inc. Issued By HC Wainwright (NASDAQ:AKBA)

Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Rating) – Stock analysts at HC Wainwright boosted their Q2 2023 earnings estimates for shares of Akebia Therapeutics in a research note issued on Tuesday, May 9th. HC Wainwright analyst E. Arce now anticipates that the biopharmaceutical company will earn ($0.05) per share for the quarter, up from their prior forecast of ($0.10). The consensus estimate for Akebia Therapeutics’ current full-year earnings is ($0.43) per share. HC Wainwright also issued estimates for Akebia Therapeutics’ Q3 2023 earnings at ($0.04) EPS, Q4 2023 earnings at $0.00 EPS, FY2023 earnings at ($0.23) EPS, FY2024 earnings at ($0.05) EPS, FY2025 earnings at ($0.56) EPS, FY2026 earnings at ($0.47) EPS and FY2027 earnings at ($0.36) EPS.

Separately, StockNews.com began coverage on shares of Akebia Therapeutics in a report on Friday, March 17th. They issued a “buy” rating for the company.

Akebia Therapeutics Trading Up 2.9 %

Shares of Akebia Therapeutics stock opened at $1.06 on Thursday. Akebia Therapeutics has a 1 year low of $0.24 and a 1 year high of $1.20. The company has a debt-to-equity ratio of 3.65, a current ratio of 1.48 and a quick ratio of 1.31. The firm has a fifty day moving average price of $0.74 and a 200 day moving average price of $0.60. The stock has a market cap of $197.08 million, a PE ratio of -2.05 and a beta of 0.74.

Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last issued its earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. Akebia Therapeutics had a negative net margin of 31.63% and a negative return on equity of 279.65%. The firm had revenue of $55.18 million during the quarter, compared to analysts’ expectations of $48.35 million.

Institutional Investors Weigh In On Akebia Therapeutics

A number of institutional investors have recently bought and sold shares of AKBA. Alerce Investment Management L.P. raised its holdings in shares of Akebia Therapeutics by 224.3% during the fourth quarter. Alerce Investment Management L.P. now owns 15,090,119 shares of the biopharmaceutical company’s stock worth $8,707,000 after purchasing an additional 10,437,558 shares during the period. Vanguard Group Inc. lifted its stake in Akebia Therapeutics by 8.8% during the first quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock valued at $10,339,000 after buying an additional 1,167,319 shares in the last quarter. Millennium Management LLC lifted its stake in Akebia Therapeutics by 65.8% during the second quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company’s stock valued at $1,891,000 after buying an additional 2,124,161 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Akebia Therapeutics by 103.5% in the third quarter. Renaissance Technologies LLC now owns 3,016,427 shares of the biopharmaceutical company’s stock worth $954,000 after purchasing an additional 1,534,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Akebia Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,666,861 shares of the biopharmaceutical company’s stock valued at $1,915,000 after acquiring an additional 73,020 shares in the last quarter. 28.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO John P. Butler sold 91,868 shares of Akebia Therapeutics stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $0.88, for a total value of $80,843.84. Following the sale, the chief executive officer now owns 1,568,872 shares of the company’s stock, valued at $1,380,607.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 132,524 shares of company stock valued at $116,621 in the last ninety days. Company insiders own 3.68% of the company’s stock.

Akebia Therapeutics Company Profile

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Akebia Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney diseases. The firm is also involved in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat.