Akebia Therapeutics Inc (AKBA) Expected to Post Earnings of -$0.36 Per Share

Wall Street brokerages forecast that Akebia Therapeutics Inc (NASDAQ:AKBA) will report earnings per share (EPS) of ($0.36) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Akebia Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.27). Akebia Therapeutics reported earnings of ($0.60) per share during the same quarter last year, which would suggest a positive year over year growth rate of 40%. The firm is scheduled to issue its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Akebia Therapeutics will report full year earnings of ($1.44) per share for the current financial year, with EPS estimates ranging from ($1.82) to ($0.87). For the next financial year, analysts expect that the business will report earnings of ($0.79) per share, with EPS estimates ranging from ($1.66) to $0.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Akebia Therapeutics.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). The company had revenue of $72.67 million during the quarter, compared to the consensus estimate of $83.69 million. Akebia Therapeutics had a negative return on equity of 54.06% and a negative net margin of 82.14%.

A number of research firms recently weighed in on AKBA. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Thursday, February 28th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Citigroup began coverage on Akebia Therapeutics in a report on Wednesday, March 20th. They issued a “neutral” rating and a $9.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Akebia Therapeutics in a report on Thursday, May 2nd. They issued an “overweight” rating and a $12.00 target price for the company. Finally, BidaskClub raised Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.03.

Hedge funds have recently made changes to their positions in the stock. First Quadrant L P CA bought a new stake in shares of Akebia Therapeutics in the 1st quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Akebia Therapeutics by 57.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,812 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,835 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Akebia Therapeutics by 80.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 8,418 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 3,743 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Akebia Therapeutics by 3,206.3% in the 4th quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 9,619 shares in the last quarter. Finally, HL Financial Services LLC purchased a new position in shares of Akebia Therapeutics in the 4th quarter worth $56,000. 68.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:AKBA traded down $0.01 during mid-day trading on Tuesday, reaching $5.85. The company had a trading volume of 1,056,223 shares, compared to its average volume of 1,177,395. The stock has a market capitalization of $697.04 million, a PE ratio of -2.40 and a beta of 1.34. Akebia Therapeutics has a one year low of $5.20 and a one year high of $11.60.

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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Earnings History and Estimates for Akebia Therapeutics (NASDAQ:AKBA)

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