Akebia Therapeutics (NASDAQ:AKBA) Issues Earnings Results

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09), Zacks reports. The business had revenue of $32.61 million for the quarter, compared to analyst estimates of $41.13 million. During the same quarter in the prior year, the firm earned ($0.14) EPS.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock traded down $0.12 during trading hours on Friday, hitting $1.21. The company's stock had a trading volume of 2,315,693 shares, compared to its average volume of 4,162,704. Akebia Therapeutics has a 12 month low of $0.78 and a 12 month high of $2.48. The stock has a 50 day moving average of $1.56 and a 200 day moving average of $1.36. The company has a market capitalization of $253.34 million, a PE ratio of -4.32 and a beta of 0.94.

Insider Activity

In other news, CEO John P. Butler sold 46,570 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $1.58, for a total value of $73,580.60. Following the sale, the chief executive officer now directly owns 2,044,580 shares in the company, valued at $3,230,436.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO John P. Butler sold 46,570 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $1.58, for a total transaction of $73,580.60. Following the completion of the transaction, the chief executive officer now directly owns 2,044,580 shares in the company, valued at approximately $3,230,436.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John P. Butler sold 37,733 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $1.52, for a total value of $57,354.16. Following the completion of the transaction, the chief executive officer now owns 2,091,150 shares of the company's stock, valued at $3,178,548. The disclosure for this sale can be found here. Insiders sold 117,093 shares of company stock worth $181,654 over the last quarter. 3.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AKBA shares. StockNews.com cut shares of Akebia Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, April 29th. HC Wainwright raised their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, March 28th.

Akebia Therapeutics Company Profile

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.