Akebia Therapeutics, Inc. (NASDAQ:AKBA) Issues Quarterly Earnings Results, Beats Estimates By $0.36 EPS
Akebia Therapeutics, Inc. (NASDAQ:AKBA) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.36, Bloomberg Earnings reports. The company had revenue of $28.52 million during the quarter, compared to analysts’ expectations of $26.50 million.
Akebia Therapeutics (NASDAQ AKBA) traded up 1.98% during mid-day trading on Wednesday, reaching $13.89. 776,325 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $14.28 and a 200-day moving average price of $11.72. Akebia Therapeutics has a 12-month low of $7.16 and a 12-month high of $16.54. The stock’s market capitalization is $254.19 million.
AKBA has been the subject of several research reports. JMP Securities upped their target price on shares of Akebia Therapeutics from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. HC Wainwright boosted their price target on shares of Akebia Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target (up from $14.00) on shares of Akebia Therapeutics in a research note on Thursday, April 27th. Aegis reissued a “buy” rating on shares of Akebia Therapeutics in a research note on Friday, June 30th. Finally, BidaskClub downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Akebia Therapeutics has an average rating of “Buy” and a consensus price target of $18.25.
In other news, Director Muneer A. Satter bought 1,034,482 shares of Akebia Therapeutics stock in a transaction that occurred on Wednesday, July 5th. The shares were purchased at an average price of $14.50 per share, with a total value of $14,999,989.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.67% of the stock is owned by company insiders.
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About Akebia Therapeutics
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
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