Akebia Therapeutics (NASDAQ:AKBA) Issues Quarterly Earnings Results

Akebia Therapeutics (NASDAQ:AKBAGet Rating) released its earnings results on Thursday. The biopharmaceutical company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.54, Fidelity Earnings reports. Akebia Therapeutics had a negative net margin of 55.04% and a negative return on equity of 186.26%. During the same quarter last year, the business earned ($0.51) earnings per share.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $0.40 on Friday. The company has a 50-day simple moving average of $0.40 and a 200-day simple moving average of $1.04. Akebia Therapeutics has a one year low of $0.30 and a one year high of $3.35.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. HC Wainwright lowered their target price on shares of Akebia Therapeutics from $2.00 to $1.25 in a research note on Monday, May 16th. StockNews.com assumed coverage on shares of Akebia Therapeutics in a research note on Wednesday. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Akebia Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $1.75.

Hedge Funds Weigh In On Akebia Therapeutics

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Akebia Therapeutics by 8.8% in the first quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock worth $10,339,000 after purchasing an additional 1,167,319 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Akebia Therapeutics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,666,861 shares of the biopharmaceutical company’s stock valued at $1,915,000 after acquiring an additional 73,020 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Akebia Therapeutics by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,003,327 shares of the biopharmaceutical company’s stock valued at $720,000 after acquiring an additional 380,300 shares during the last quarter. UBS Group AG lifted its holdings in Akebia Therapeutics by 59.4% in the 1st quarter. UBS Group AG now owns 769,438 shares of the biopharmaceutical company’s stock valued at $553,000 after acquiring an additional 286,788 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Akebia Therapeutics by 7.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 476,974 shares of the biopharmaceutical company’s stock valued at $343,000 after acquiring an additional 33,016 shares during the last quarter. Institutional investors own 55.34% of the company’s stock.

Akebia Therapeutics Company Profile

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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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

Further Reading

Earnings History for Akebia Therapeutics (NASDAQ:AKBA)

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