Akebia Therapeutics (NASDAQ:AKBA) Announces Quarterly Earnings Results

Akebia Therapeutics (NASDAQ:AKBA) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05), Zacks reports. The business had revenue of $46.50 million during the quarter, compared to analysts’ expectations of $37.36 million.

Akebia Therapeutics Stock Up 33.7 %

AKBA stock opened at $2.26 on Friday. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.48. The business has a fifty day moving average of $2.02 and a 200-day moving average of $1.78. The company has a market cap of $493.09 million, a P/E ratio of -9.83 and a beta of 0.94.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AKBA shares. HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday. StockNews.com downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th. Finally, Piper Sandler boosted their target price on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Buying and Selling

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 30,202 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $63,424.20. Following the completion of the transaction, the chief accounting officer now directly owns 280,248 shares of the company’s stock, valued at approximately $588,520.80. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Grund sold 55,621 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $116,804.10. Following the completion of the transaction, the insider now directly owns 442,579 shares of the company’s stock, valued at approximately $929,415.90. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 280,579 shares of company stock valued at $589,216 over the last three months. Company insiders own 4.10% 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.