Leerink Partnrs Has Pessimistic View of AKBA FY2028 Earnings

Key Points

• Leerink Partners has downgraded its FY2028 earnings per share estimate for Akebia Therapeutics from $0.55 to $0.47.
• A number of analysts currently rate Akebia Therapeutics as a "Buy," with a consensus target price of $6.75.
• Akebia Therapeutics recently faced insider selling, with significant shares sold by both the CAO and CFO, indicating potential concerns from company leadership.

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) - Research analysts at Leerink Partnrs lowered their FY2028 EPS estimates for shares of Akebia Therapeutics in a report released on Thursday, August 21st. Leerink Partnrs analyst R. Ruiz now expects that the biopharmaceutical company will post earnings of $0.47 per share for the year, down from their prior forecast of $0.55. Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for Akebia Therapeutics' current full-year earnings is ($0.30) per share.

A number of other equities analysts also recently issued reports on the stock. Zacks Research downgraded shares of Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. HC Wainwright assumed coverage on shares of Akebia Therapeutics in a report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price target on the stock. Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Finally, Leerink Partners assumed coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Akebia Therapeutics has a consensus rating of "Buy" and an average target price of $6.75.

Akebia Therapeutics Price Performance

AKBA opened at $3.19 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. The company has a market capitalization of $845.80 million, a price-to-earnings ratio of -18.76 and a beta of 0.96. The firm's fifty day moving average price is $3.60 and its two-hundred day moving average price is $2.77. Akebia Therapeutics has a 1 year low of $1.24 and a 1 year high of $4.08.

Institutional Investors Weigh In On Akebia Therapeutics

Several institutional investors have recently added to or reduced their stakes in AKBA. AIGH Capital Management LLC purchased a new stake in Akebia Therapeutics during the first quarter valued at about $5,616,000. MPM Bioimpact LLC purchased a new stake in Akebia Therapeutics during the second quarter valued at about $10,516,000. Woodline Partners LP purchased a new stake in Akebia Therapeutics during the first quarter valued at about $4,772,000. Nantahala Capital Management LLC purchased a new stake in Akebia Therapeutics during the first quarter valued at about $3,840,000. Finally, Vanguard Group Inc. lifted its holdings in Akebia Therapeutics by 16.6% during the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock valued at $24,357,000 after purchasing an additional 1,801,603 shares during the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.01, for a total transaction of $60,150.00. Following the sale, the chief accounting officer directly owned 266,914 shares of the company's stock, valued at $1,070,325.14. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erik Ostrowski sold 41,314 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $3.67, for a total transaction of $151,622.38. Following the sale, the chief financial officer directly owned 503,586 shares in the company, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,648 shares of company stock worth $258,841 over the last three months. 3.00% of the stock is owned by insiders.

About Akebia Therapeutics

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.

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