Brokers Issue Forecasts for AKBA FY2029 Earnings

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) - Equities research analysts at HC Wainwright issued their FY2029 earnings per share estimates for Akebia Therapeutics in a report issued on Tuesday, January 14th. HC Wainwright analyst E. Arce anticipates that the biopharmaceutical company will post earnings of $2.17 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.

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 company had revenue of $37.43 million during the quarter, compared to analysts' expectations of $45.66 million. During the same period in the prior year, the firm earned ($0.08) earnings per share.

Separately, StockNews.com lowered shares of Akebia Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock traded down $0.01 during trading on Thursday, hitting $1.93. The company's stock had a trading volume of 1,398,430 shares, compared to its average volume of 2,066,278. The stock's fifty day moving average is $1.90 and its 200 day moving average is $1.56. Akebia Therapeutics has a 1-year low of $0.80 and a 1-year high of $2.48. The stock has a market capitalization of $421.09 million, a price-to-earnings ratio of -8.39 and a beta of 0.72.

Hedge Funds Weigh In On Akebia Therapeutics

Large investors have recently modified their holdings of the company. State Street Corp increased its position in Akebia Therapeutics by 24.9% during the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company's stock worth $4,528,000 after purchasing an additional 683,287 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $617,000 after buying an additional 585,789 shares during the period. Wellington Management Group LLP purchased a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $534,000. Renaissance Technologies LLC raised its stake in shares of Akebia Therapeutics by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company's stock valued at $3,993,000 after acquiring an additional 262,700 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Akebia Therapeutics by 4,915.4% during the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company's stock valued at $252,000 after acquiring an additional 242,134 shares in the last quarter. 33.92% of the stock is currently owned by hedge funds and other 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.