Akebia Therapeutics Inc (NASDAQ:AKBA) Expected to Announce Earnings of -$0.35 Per Share

Brokerages forecast that Akebia Therapeutics Inc (NASDAQ:AKBA) will announce earnings per share of ($0.35) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Akebia Therapeutics’ earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.41). Akebia Therapeutics reported earnings per share of ($0.60) in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.7%. The company is scheduled to report its next earnings report on Wednesday, August 14th.

On average, analysts expect that Akebia Therapeutics will report full-year earnings of ($1.75) per share for the current fiscal year, with EPS estimates ranging from ($2.28) to ($1.41). For the next fiscal year, analysts forecast that the company will report earnings of ($0.63) per share, with EPS estimates ranging from ($1.66) to $0.38. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Akebia Therapeutics.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). The business had revenue of $72.67 million during the quarter, compared to analysts’ expectations of $83.69 million. Akebia Therapeutics had a negative net margin of 82.14% and a negative return on equity of 45.06%.

A number of research analysts recently commented on the company. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Citigroup assumed coverage on Akebia Therapeutics in a report on Wednesday, March 20th. They issued a “neutral” rating and a $9.00 price target for the company. Zacks Investment Research downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub downgraded Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. assumed coverage on Akebia Therapeutics in a report on Thursday, May 2nd. They issued an “overweight” rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Akebia Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $13.03.

Large investors have recently added to or reduced their stakes in the business. Baupost Group LLC MA bought a new position in Akebia Therapeutics during the 4th quarter worth approximately $135,327,000. Strs Ohio lifted its holdings in Akebia Therapeutics by 70.5% during the 4th quarter. Strs Ohio now owns 42,800 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 17,700 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Akebia Therapeutics by 118.3% during the 4th quarter. Alps Advisors Inc. now owns 220,395 shares of the biopharmaceutical company’s stock worth $1,219,000 after buying an additional 119,447 shares during the last quarter. Adell Harriman & Carpenter Inc. bought a new position in Akebia Therapeutics during the 4th quarter worth approximately $116,000. Finally, Boston Partners bought a new position in Akebia Therapeutics during the 4th quarter worth approximately $1,545,000. 70.62% of the stock is currently owned by institutional investors.

Shares of AKBA opened at $4.31 on Thursday. Akebia Therapeutics has a one year low of $4.12 and a one year high of $11.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.71 and a quick ratio of 1.15.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.

See Also: Using other technical indicators with support levels

Get a free copy of the Zacks research report on Akebia Therapeutics (AKBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Akebia Therapeutics (NASDAQ:AKBA)

Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.