FY2029 Earnings Forecast for AKBA Issued By HC Wainwright

Akebia Therapeutics, Inc. (NASDAQ:AKBA) – Investment analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for Akebia Therapeutics in a note issued to investors on Tuesday, January 14th. HC Wainwright analyst E. Arce forecasts that the biopharmaceutical company will earn $2.17 per share for the year. HC Wainwright currently has a “Buy” rating and a $7.50 target price on the stock. The consensus estimate for Akebia Therapeutics’ current full-year earnings is ($0.26) per share.

Separately, StockNews.com lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday.

Akebia Therapeutics Stock Performance

Shares of Akebia Therapeutics stock opened at $1.93 on Thursday. The stock has a market capitalization of $421.09 million, a P/E ratio of -8.39 and a beta of 0.72. The stock’s 50-day simple moving average is $1.91 and its 200 day simple moving average is $1.57. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same period in the previous year, the company posted ($0.08) earnings per share.

Institutional Trading of Akebia Therapeutics

A number of hedge funds have recently made changes to their positions in AKBA. Mercer Global Advisors Inc. ADV raised its position in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Akebia Therapeutics during the 3rd quarter valued at about $44,000. B. Riley Wealth Advisors Inc. bought a new stake in Akebia Therapeutics in the 2nd quarter worth approximately $44,000. XTX Topco Ltd purchased a new stake in Akebia Therapeutics in the third quarter worth approximately $58,000. Finally, Intech Investment Management LLC purchased a new position in Akebia Therapeutics in the 3rd quarter worth $59,000. 33.92% 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 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.