Akebia Therapeutics (NASDAQ:AKBA) Releases Quarterly Earnings Results, Meets Estimates

Akebia Therapeutics (NASDAQ:AKBA) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09), Zacks reports. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $41.13 million. During the same period in the previous year, the business posted ($0.14) EPS.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock traded down $0.10 on Friday, hitting $1.23. The company had a trading volume of 1,491,834 shares, compared to its average volume of 4,152,317. Akebia Therapeutics has a twelve month low of $0.78 and a twelve month high of $2.48. The stock has a 50-day moving average of $1.56 and a 200-day moving average of $1.36. The firm has a market capitalization of $257.51 million, a P/E ratio of -4.75 and a beta of 0.94.

Insider Activity at Akebia Therapeutics

In other news, CEO John P. Butler sold 46,570 shares of Akebia Therapeutics stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $1.58, for a total transaction of $73,580.60. Following the completion of the sale, the chief executive officer now owns 2,044,580 shares of the company’s stock, valued at $3,230,436.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Akebia Therapeutics news, CEO John P. Butler sold 37,733 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $1.52, for a total value of $57,354.16. Following the transaction, the chief executive officer now directly owns 2,091,150 shares in the company, valued at $3,178,548. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John P. Butler sold 46,570 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $1.58, for a total transaction of $73,580.60. Following the sale, the chief executive officer now directly owns 2,044,580 shares in the company, valued at approximately $3,230,436.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,093 shares of company stock valued at $181,654. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AKBA has been the topic of several research reports. StockNews.com lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. HC Wainwright increased their price objective on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th.

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.