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.
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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