Akebia Therapeutics Inc (NASDAQ:AKBA) – Stock analysts at Piper Jaffray Companies reduced their Q3 2018 earnings per share estimates for Akebia Therapeutics in a report issued on Wednesday, August 8th. Piper Jaffray Companies analyst C. Raymond now expects that the biopharmaceutical company will earn ($0.67) per share for the quarter, down from their previous estimate of ($0.49).

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.09). The company had revenue of $48.79 million during the quarter, compared to analysts’ expectations of $48.75 million. Akebia Therapeutics had a negative return on equity of 46.95% and a negative net margin of 30.60%.

AKBA has been the subject of several other reports. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Needham & Company LLC reduced their price objective on Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday. HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a research note on Friday, June 29th. Zacks Investment Research upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective for the company in a research note on Monday, May 14th. Finally, Raymond James assumed coverage on Akebia Therapeutics in a research note on Monday. They issued a “buy” rating and a $18.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.38.

NASDAQ:AKBA opened at $7.82 on Monday. The firm has a market capitalization of $457.50 million, a PE ratio of -4.42 and a beta of 1.11. Akebia Therapeutics has a one year low of $7.69 and a one year high of $20.25.

Large investors have recently bought and sold shares of the company. Verition Fund Management LLC bought a new position in Akebia Therapeutics in the 1st quarter worth $131,000. Lido Advisors LLC bought a new position in Akebia Therapeutics in the 1st quarter worth $135,000. Cubist Systematic Strategies LLC bought a new position in Akebia Therapeutics in the 1st quarter worth $158,000. Macquarie Group Ltd. boosted its holdings in Akebia Therapeutics by 106.5% in the 4th quarter. Macquarie Group Ltd. now owns 19,200 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 9,900 shares during the period. Finally, Sun Life Financial INC bought a new position in Akebia Therapeutics in the 2nd quarter worth $193,000. Hedge funds and other institutional investors own 76.23% of the company’s stock.

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 and Estimates for Akebia Therapeutics (NASDAQ:AKBA)

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