Wall Street analysts forecast that Akebia Therapeutics Inc (NASDAQ:AKBA) will announce earnings per share of ($0.77) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Akebia Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.52) and the lowest estimate coming in at ($1.13). Akebia Therapeutics posted earnings per share of ($0.49) during the same quarter last year, which indicates a negative year over year growth rate of 57.1%. The business is expected to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Akebia Therapeutics will report full year earnings of ($2.70) per share for the current financial year, with EPS estimates ranging from ($3.41) to ($2.12). For the next fiscal year, analysts expect that the company will report earnings of ($2.85) per share, with EPS estimates ranging from ($4.80) to ($1.23). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Akebia Therapeutics.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.09). Akebia Therapeutics had a negative net margin of 30.60% and a negative return on equity of 46.95%. The company had revenue of $48.79 million for the quarter, compared to the consensus estimate of $48.75 million.

A number of brokerages recently weighed in on AKBA. Zacks Investment Research cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. BidaskClub cut shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. HC Wainwright dropped their price target on shares of Akebia Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, June 6th. Finally, Needham & Company LLC dropped their price target on shares of Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Akebia Therapeutics has an average rating of “Buy” and an average target price of $18.75.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Akebia Therapeutics by 16.7% in the 2nd quarter. BlackRock Inc. now owns 5,015,035 shares of the biopharmaceutical company’s stock worth $50,050,000 after purchasing an additional 717,328 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Akebia Therapeutics by 3.6% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,824,403 shares of the biopharmaceutical company’s stock valued at $28,187,000 after acquiring an additional 98,832 shares in the last quarter. DAFNA Capital Management LLC grew its stake in Akebia Therapeutics by 349.9% during the 1st quarter. DAFNA Capital Management LLC now owns 610,738 shares of the biopharmaceutical company’s stock valued at $5,820,000 after acquiring an additional 475,000 shares in the last quarter. Marshall Wace LLP grew its stake in Akebia Therapeutics by 129.7% during the 2nd quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock valued at $5,382,000 after acquiring an additional 304,490 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Akebia Therapeutics by 1.0% during the 1st quarter. Northern Trust Corp now owns 518,839 shares of the biopharmaceutical company’s stock valued at $4,944,000 after acquiring an additional 5,383 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ AKBA opened at $7.80 on Friday. Akebia Therapeutics has a fifty-two week low of $7.32 and a fifty-two week high of $20.25. The stock has a market cap of $435.82 million, a P/E ratio of -4.41 and a beta of 0.98.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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

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