Akebia Therapeutics (NASDAQ:AKBA) Issues Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Akebia missed quarterly expectations: It reported a loss of $0.05 per share versus the $0.04 loss expected, while revenue of $36.9 million fell short of the $46.94 million estimate.
• Vafseo showed encouraging trial results—the VOICE trial found a 10% reduction in hospitalizations versus ESA—but Q3 product revenue increased just 3% to $14.8 million, partly due to customer inventory drawdowns.
• Auryxia revenue fell to $20 million from $42.5 million a year earlier amid generic competition, and Akebia recorded a $14.4 million net loss. Shares dropped 38.8% on Thursday; the company reported $159.3 million in cash and expects to fund its current operating plan for at least two years.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01), FiscalAI reports. The business had revenue of $36.90 million during 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 Trading Down 38.8%

Akebia Therapeutics stock traded down $0.27 during trading hours on Thursday, hitting $0.43. 17,222,328 shares of the stock were exchanged, compared to its average volume of 8,731,314. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.43 and a quick ratio of 1.35. Akebia Therapeutics has a 12 month low of $0.42 and a 12 month high of $2.11. The business's 50-day moving average is $0.82 and its two-hundred day moving average is $1.13.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating on shares of Akebia Therapeutics in a research note on Thursday, August 6th. Leerink Partners downgraded Akebia Therapeutics from an "outperform" rating to a "market perform" rating and set a $1.00 target price for the company. in a research report on Friday, August 7th. Wall Street Zen raised Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday. Weiss Ratings lowered Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 2nd. Finally, Westpark Capital assumed coverage on Akebia Therapeutics in a research report on Tuesday, September 8th. They issued a "buy" rating and a $4.50 price target on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Akebia Therapeutics has an average rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.