Akebia Therapeutics (NASDAQ:AKBA) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Akebia Therapeutics (NASDAQ:AKBA) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05), Zacks reports.

Akebia Therapeutics Stock Down 6.9 %

Akebia Therapeutics stock opened at $1.80 on Thursday. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48. The company’s fifty day simple moving average is $2.02 and its 200-day simple moving average is $1.78. The stock has a market cap of $391.85 million, a P/E ratio of -7.80 and a beta of 0.94.

Wall Street Analyst Weigh In

AKBA has been the subject of a number of recent research reports. StockNews.com downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday, January 23rd.

Insider Activity at Akebia Therapeutics

In other news, CEO John P. Butler sold 144,250 shares of Akebia Therapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $302,925.00. Following the completion of the sale, the chief executive officer now directly owns 2,604,330 shares in the company, valued at $5,469,093. The trade was a 5.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Malabre sold 30,202 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the completion of the sale, the chief accounting officer now directly owns 280,248 shares of the company’s stock, valued at $588,520.80. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,579 shares of company stock valued at $589,216. Insiders own 4.10% of the company’s stock.

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.