Akebia Therapeutics Inc. (AKBA) Expected to Announce Quarterly Sales of $48.75 Million

Analysts predict that Akebia Therapeutics Inc. (NASDAQ:AKBA) will announce sales of $48.75 million for the current quarter, according to Zacks. Two analysts have made estimates for Akebia Therapeutics’ earnings, with the highest sales estimate coming in at $52.50 million and the lowest estimate coming in at $45.00 million. Akebia Therapeutics reported sales of $28.52 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 70.9%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Akebia Therapeutics will report full year sales of $197.62 million for the current year, with estimates ranging from $183.93 million to $211.30 million. For the next year, analysts forecast that the business will report sales of $147.50 million per share, with estimates ranging from $125.00 million to $170.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Akebia Therapeutics.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.01. Akebia Therapeutics had a negative net margin of 27.48% and a negative return on equity of 47.15%. The firm had revenue of $45.93 million during the quarter, compared to the consensus estimate of $47.80 million.

AKBA has been the subject of several recent research reports. ValuEngine downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Mizuho reaffirmed a “buy” rating and set a $24.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, March 13th. BidaskClub cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. Finally, Zacks Investment Research cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Akebia Therapeutics presently has an average rating of “Hold” and a consensus target price of $22.57.

Akebia Therapeutics opened at $10.50 on Friday, Marketbeat.com reports. Akebia Therapeutics has a twelve month low of $10.38 and a twelve month high of $10.55.

Several institutional investors have recently added to or reduced their stakes in AKBA. California State Teachers Retirement System boosted its stake in shares of Akebia Therapeutics by 9.6% during the 3rd quarter. California State Teachers Retirement System now owns 71,586 shares of the biopharmaceutical company’s stock worth $1,408,000 after purchasing an additional 6,244 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Akebia Therapeutics by 23.2% in the fourth quarter. Bank of Montreal Can now owns 67,639 shares of the biopharmaceutical company’s stock worth $1,006,000 after buying an additional 12,755 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Akebia Therapeutics by 24.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 296,131 shares of the biopharmaceutical company’s stock worth $4,404,000 after buying an additional 57,798 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Akebia Therapeutics in the fourth quarter worth $410,000. Finally, Strs Ohio increased its stake in shares of Akebia Therapeutics by 12.4% in the fourth quarter. Strs Ohio now owns 51,700 shares of the biopharmaceutical company’s stock worth $768,000 after buying an additional 5,700 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company which engages in the development of novel proprietary therapeutics based on hypoxia-inducible factor and biology. It also includes the development and commercialization of drugs for the treatment of renal and metabolic disorders. It offers vadadustat which is an oral therapy in a phase three development that has the potential to set a new standard of care in treatment of anemia associated with chronic kidney disease.

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

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