Akebia Therapeutics (NASDAQ:AKBA) Issues Earnings Results

Akebia Therapeutics (NASDAQ:AKBA) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09), Zacks reports. The firm had revenue of $32.61 million for the quarter, compared to analyst estimates of $41.13 million. During the same quarter last year, the company earned ($0.14) earnings per share.

Akebia Therapeutics Stock Performance

Shares of AKBA stock traded down $0.10 during trading hours on Friday, hitting $1.23. 1,491,834 shares of the company were exchanged, compared to its average volume of 4,152,317. The business’s 50-day simple moving average is $1.56 and its two-hundred day simple moving average is $1.36. Akebia Therapeutics has a one year low of $0.78 and a one year high of $2.48. The stock has a market capitalization of $257.51 million, a price-to-earnings ratio of -4.75 and a beta of 0.94.

Analyst Ratings Changes

A number of analysts have weighed in on the company. HC Wainwright raised their price target on Akebia Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. StockNews.com cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, April 29th.

Insider Buying and Selling at Akebia Therapeutics

In other Akebia Therapeutics news, CEO John P. Butler sold 46,570 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $1.58, for a total value of $73,580.60. Following the sale, the chief executive officer now owns 2,044,580 shares in the company, valued at $3,230,436.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John P. Butler sold 37,733 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $1.52, for a total transaction of $57,354.16. Following the transaction, the chief executive officer now owns 2,091,150 shares in the company, valued at approximately $3,178,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John P. Butler sold 46,570 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the transaction, the chief executive officer now owns 2,044,580 shares in the company, valued at approximately $3,230,436.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,093 shares of company stock worth $181,654. 3.84% of the stock is owned by company insiders.

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.