What is HC Wainwright's Forecast for AKBA FY2024 Earnings?

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) - Equities research analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for Akebia Therapeutics in a report issued on Tuesday, January 14th. HC Wainwright analyst E. Arce forecasts that the biopharmaceutical company will post earnings of ($0.34) per share for the year. HC Wainwright currently has a "Buy" rating and a $7.50 target price 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 shares of Akebia Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday.

Akebia Therapeutics Stock Performance

Shares of NASDAQ AKBA traded up $0.14 during mid-day trading on Friday, reaching $2.07. The company's stock had a trading volume of 6,512,128 shares, compared to its average volume of 1,701,380. The stock has a 50-day moving average of $1.91 and a two-hundred day moving average of $1.58. 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 1-year low of $0.80 and a 1-year high of $2.48.

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

Institutional Investors Weigh In On Akebia Therapeutics

A number of hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its holdings in Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 9,037 shares during the period. Empirical Asset Management LLC acquired a new position in shares of Akebia Therapeutics in the third quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics during the 2nd quarter worth approximately $44,000. XTX Topco Ltd acquired a new stake in Akebia Therapeutics during the 3rd quarter worth approximately $58,000. Finally, Intech Investment Management LLC purchased a new position in Akebia Therapeutics in the 3rd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Company Profile

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.