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

Akebia Therapeutics (NASDAQ:AKBA) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04), Zacks reports. The firm had revenue of $36.90 million for the quarter, compared to analyst estimates of $46.94 million. Akebia Therapeutics had a negative return on equity of 88.88% and a negative net margin of 13.54%.

Here are the key takeaways from Akebia Therapeutics’ conference call:

• The 2,116-patient VOICE trial showed a 10% reduction in hospitalizations with Vafseo versus ESA and met its primary endpoint for superiority, with no significant mortality difference. Akebia also reported VOCAL topline results showing Vafseo was non-inferior to ESA in maintaining hemoglobin with three-times-weekly dosing.
• Vafseo patients on therapy grew about 140% year over year, but Q3 product revenue rose only 3% to $14.8 million. Akebia attributed the gap to customer inventory drawdowns tied to lower-than-expected dosing and dialysis attendance, estimating underlying Q3 end-user demand at $19–$20 million.
• As Vafseo’s separate TDAPA reimbursement ends on January 1, 2027, Akebia expects annual therapy costs to fall to roughly $1,000–$1,500, reflecting lower ESA prices, dosing, and compliance. DaVita plans a gradual rollout, while Fresenius remains interested but is expected to move more slowly.
• Q3 total revenue fell to $36.9 million from $58.8 million a year earlier, largely as Auryxia revenue dropped to $20 million from $42.5 million amid generic competition and pricing pressure. Akebia recorded a $14.4 million net loss, compared with $0.5 million of net income in Q3 2025.
• Akebia’s phase II trials of praliciguat in FSGS and ebribafusp across C3G, IgAN, and lupus nephritis are enrolling; initial ebribafusp data are expected in 2027, while no praliciguat data timing was provided. The company ended the quarter with $159.3 million in cash and said it expects to fund its current operating plan for at least two years.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock traded down $0.03 on Friday, hitting $0.39. The company’s stock had a trading volume of 5,925,871 shares, compared to its average volume of 5,163,803. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.35 and a current ratio of 1.43. Akebia Therapeutics has a 1 year low of $0.36 and a 1 year high of $2.07. The firm has a fifty day moving average price of $0.82 and a 200-day moving average price of $1.13. The company has a market capitalization of $109.18 million, a price-to-earnings ratio of -3.57 and a beta of 0.24.

Analysts Set New Price Targets

A number of brokerages have issued reports on AKBA. Wall Street Zen raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. Leerink Partners cut shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price objective on the stock. in a research note on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating on shares of Akebia Therapeutics in a report on Thursday, August 6th. Weiss Ratings cut shares of Akebia Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $4.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, September 15th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.90.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism.

Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.