Akebia Therapeutics (AKBA) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Akebia Therapeutics (NASDAQ:AKBA) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.18, Fidelity Earnings reports. Akebia Therapeutics had a negative return on equity of 46.95% and a negative net margin of 30.60%. The company had revenue of $53.17 million for the quarter, compared to analyst estimates of $39.71 million.

Shares of NASDAQ:AKBA opened at $8.96 on Friday. The company has a market capitalization of $463.32 million, a price-to-earnings ratio of -5.06 and a beta of 1.10. Akebia Therapeutics has a 52-week low of $7.32 and a 52-week high of $16.43.

An institutional investor recently raised its position in Akebia Therapeutics stock. Bank of New York Mellon Corp boosted its position in Akebia Therapeutics Inc (NASDAQ:AKBA) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 214,720 shares of the biopharmaceutical company’s stock after acquiring an additional 14,089 shares during the period. Bank of New York Mellon Corp owned 0.38% of Akebia Therapeutics worth $2,143,000 as of its most recent SEC filing. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. BidaskClub upgraded Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Morgan Stanley assumed coverage on Akebia Therapeutics in a research report on Friday, September 7th. They set a “weight” rating on the stock. Finally, Raymond James began coverage on Akebia Therapeutics in a research report on Monday, August 13th. They set a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.75.

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Akebia Therapeutics Company Profile

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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Earnings History for Akebia Therapeutics (NASDAQ:AKBA)

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