Analysts Expect Akebia Therapeutics Inc (AKBA) Will Post Quarterly Sales of $37.58 Million
Analysts expect Akebia Therapeutics Inc (NASDAQ:AKBA) to announce $37.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Akebia Therapeutics’ earnings, with the highest sales estimate coming in at $55.50 million and the lowest estimate coming in at $19.65 million. Akebia Therapeutics reported sales of $87.32 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 57%. The firm is expected to report its next quarterly earnings report on Monday, March 11th.
According to Zacks, analysts expect that Akebia Therapeutics will report full-year sales of $177.81 million for the current financial year, with estimates ranging from $162.66 million to $203.22 million. For the next financial year, analysts expect that the firm will report sales of $115.08 million, with estimates ranging from $42.56 million to $170.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Akebia Therapeutics.
Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.18. The firm had revenue of $53.17 million during the quarter, compared to the consensus estimate of $39.71 million. Akebia Therapeutics had a negative return on equity of 45.61% and a negative net margin of 30.29%.
NASDAQ AKBA traded up $0.23 during trading on Wednesday, hitting $7.17. 1,095,500 shares of the company’s stock were exchanged, compared to its average volume of 493,390. The company has a market cap of $415.96 million, a price-to-earnings ratio of -4.14 and a beta of 1.10. Akebia Therapeutics has a fifty-two week low of $6.68 and a fifty-two week high of $16.43.
Several large investors have recently added to or reduced their stakes in AKBA. Abrams Capital Management L.P. bought a new stake in shares of Akebia Therapeutics during the third quarter worth about $9,883,000. BlackRock Inc. grew its holdings in shares of Akebia Therapeutics by 16.7% during the second 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 during the last quarter. Morgan Stanley grew its holdings in shares of Akebia Therapeutics by 35.7% during the third quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after purchasing an additional 496,069 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Akebia Therapeutics during the third quarter worth about $4,006,000. Finally, Marshall Wace LLP grew its holdings in shares of Akebia Therapeutics by 129.7% during the second quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock worth $5,382,000 after purchasing an additional 304,490 shares during the last quarter. Institutional investors own 69.07% of the company’s stock.
Akebia Therapeutics Company Profile
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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