FY2024 Earnings Forecast for AKBA Issued By HC Wainwright

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) - Analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for shares of Akebia Therapeutics in a note issued to investors on Tuesday, January 14th. HC Wainwright analyst E. Arce expects that the biopharmaceutical company will post earnings of ($0.34) per share for the year. HC Wainwright has a "Buy" rating and a $7.50 price objective on the stock. The consensus estimate for Akebia Therapeutics' current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Akebia Therapeutics' Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.06) EPS, FY2025 earnings at ($0.35) EPS, FY2026 earnings at ($0.20) EPS, FY2027 earnings at $0.42 EPS and FY2028 earnings at $1.42 EPS.

Separately, StockNews.com cut Akebia Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday.

Akebia Therapeutics Stock Up 7.3 %

AKBA traded up $0.14 during mid-day trading on Friday, reaching $2.07. 6,512,128 shares of the company traded hands, compared to its average volume of 2,498,413. The company's fifty day moving average price is $1.91 and its 200-day moving average price is $1.57. The stock has a market capitalization of $451.63 million, a P/E ratio of -9.00 and a beta of 0.72. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million for the quarter, compared to analysts' expectations of $45.66 million. During the same period last year, the firm earned ($0.08) earnings per share.

Institutional Trading of Akebia Therapeutics

Several large investors have recently added to or reduced their stakes in AKBA. Wellington Management Group LLP purchased a new position in shares of Akebia Therapeutics during the 3rd quarter worth $534,000. BNP Paribas Financial Markets raised its holdings in Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 31,137 shares during the period. XTX Topco Ltd purchased a new position in Akebia Therapeutics during the third quarter valued at $58,000. Bank of New York Mellon Corp grew its holdings in Akebia Therapeutics by 3,122.2% during the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company's stock valued at $617,000 after purchasing an additional 585,789 shares during the period. Finally, State Street Corp increased its position in Akebia Therapeutics by 24.9% in the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company's stock worth $4,528,000 after buying an additional 683,287 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

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.