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

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

NASDAQ:AKBA opened at $8.96 on Friday. Akebia Therapeutics has a 1 year low of $7.32 and a 1 year high of $16.43. The firm has a market capitalization of $463.32 million, a price-to-earnings ratio of -5.06 and a beta of 1.10.

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% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,720 shares of the biopharmaceutical company’s stock after buying an additional 14,089 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.38% of Akebia Therapeutics worth $2,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 75.26% of the stock is owned by institutional investors.

AKBA has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Akebia Therapeutics in a research report on Friday, September 7th. They set a “weight” rating for the company. Raymond James initiated coverage on Akebia Therapeutics in a research report on Monday, August 13th. They set a “buy” rating and a $18.00 price target for the company. ValuEngine downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. BidaskClub raised Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 13th. Finally, Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Akebia Therapeutics has an average 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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