Brokerages forecast that Akebia Therapeutics Inc (NASDAQ:AKBA) will post ($0.41) earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Akebia Therapeutics’ earnings. Akebia Therapeutics reported earnings per share of $0.25 during the same quarter last year, which indicates a negative year-over-year growth rate of 264%. The company is scheduled to report its next quarterly earnings results on Monday, March 11th.
On average, analysts expect that Akebia Therapeutics will report full year earnings of ($1.83) per share for the current year. For the next fiscal year, analysts forecast that the company will post earnings of ($0.63) per share. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Akebia Therapeutics.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.18. The business had revenue of $53.17 million for the quarter, compared to analyst estimates of $39.71 million. Akebia Therapeutics had a negative return on equity of 45.61% and a negative net margin of 30.29%.
Several analysts have issued reports on AKBA shares. Zacks Investment Research lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub upgraded Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. ValuEngine upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Mizuho restated a “buy” rating and issued a $17.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $14.82.
Shares of AKBA opened at $6.02 on Friday. Akebia Therapeutics has a 1 year low of $5.20 and a 1 year high of $15.78.
Several institutional investors and hedge funds have recently modified their holdings of the business. Federated Investors Inc. PA grew its position in shares of Akebia Therapeutics by 3,012.7% in the third quarter. Federated Investors Inc. PA now owns 10,054 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 9,731 shares in the last quarter. Bristol Advisors LLC purchased a new position in shares of Akebia Therapeutics in the fourth quarter valued at $106,000. Metropolitan Life Insurance Co. NY grew its position in shares of Akebia Therapeutics by 46.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,759 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 6,578 shares in the last quarter. Lincoln Capital Corp purchased a new position in shares of Akebia Therapeutics in the fourth quarter valued at $120,000. Finally, LPL Financial LLC grew its position in shares of Akebia Therapeutics by 37.6% in the third quarter. LPL Financial LLC now owns 26,763 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 7,314 shares in the last quarter. Hedge funds and other institutional investors own 71.38% of the company’s stock.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.
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