Equities Analysts Issue Forecasts for AKBA FY2024 Earnings

Akebia Therapeutics, Inc. (NASDAQ:AKBA) – Stock analysts at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for shares of Akebia Therapeutics in a report issued on Tuesday, January 14th. HC Wainwright analyst E. Arce forecasts that the biopharmaceutical company will post earnings per share of ($0.34) for the year. HC Wainwright has a “Buy” rating and a $7.50 price target on the stock. The consensus estimate for Akebia Therapeutics’ current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Akebia Therapeutics’ Q4 2024 earnings at ($0.11) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.06) EPS, FY2025 earnings at ($0.35) EPS, FY2026 earnings at ($0.20) EPS, FY2027 earnings at $0.42 EPS and FY2028 earnings at $1.42 EPS.

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

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $2.07 on Friday. The company has a market capitalization of $451.63 million, a price-to-earnings ratio of -9.00 and a beta of 0.72. Akebia Therapeutics has a one year low of $0.80 and a one year high of $2.48. The company’s 50-day moving average is $1.91 and its 200 day moving average is $1.57.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share 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 analysts’ expectations of $45.66 million. During the same period in the previous year, the firm earned ($0.08) EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AKBA. Mercer Global Advisors Inc. ADV boosted its position in shares of 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 buying an additional 9,037 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Akebia Therapeutics by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 9,662 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Akebia Therapeutics by 25.7% during the 3rd quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 13,907 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 31,137 shares during the period. Finally, Empirical Asset Management LLC purchased a new position in shares of Akebia Therapeutics during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

About Akebia Therapeutics

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.