HC Wainwright Comments on Akebia Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:AKBA)

Akebia Therapeutics, Inc. (NASDAQ:AKBA) – HC Wainwright issued their Q3 2024 EPS estimates for Akebia Therapeutics in a report issued on Monday, August 12th. HC Wainwright analyst E. Arce anticipates that the biopharmaceutical company will post earnings per share of ($0.06) for the quarter. HC Wainwright has a “Buy” rating and a $7.50 price objective on the stock. The consensus estimate for Akebia Therapeutics’ current full-year earnings is ($0.28) per share. HC Wainwright also issued estimates for Akebia Therapeutics’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.22) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.12) EPS, FY2027 earnings at $0.40 EPS and FY2028 earnings at $1.29 EPS.

Separately, StockNews.com downgraded shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 29th.

Akebia Therapeutics Price Performance

Akebia Therapeutics stock opened at $1.44 on Wednesday. The company has a market cap of $301.82 million, a price-to-earnings ratio of -6.26 and a beta of 0.77. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48. The stock’s 50-day moving average is $1.17 and its 200-day moving average is $1.36.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $43.65 million during the quarter, compared to analysts’ expectations of $45.61 million. During the same period last year, the business posted ($0.06) earnings per share.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Wealth Strategies LLC bought a new stake in Akebia Therapeutics in the fourth quarter valued at $25,000. Archer Investment Corp acquired a new stake in shares of Akebia Therapeutics in the 4th quarter worth about $25,000. Mackenzie Financial Corp lifted its position in Akebia Therapeutics by 37.6% in the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 6,330 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Akebia Therapeutics by 40.7% in the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Akebia Therapeutics during the 2nd quarter valued at about $34,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.