Akebia Therapeutics Inc (NASDAQ:AKBA) shares saw an uptick in trading volume on Friday following a stronger than expected earnings report. 2,579,676 shares were traded during trading, an increase of 430% from the previous session’s volume of 486,410 shares.The stock last traded at $8.96 and had previously closed at $8.20.
The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.18. Akebia Therapeutics had a negative net margin of 30.60% and a negative return on equity of 46.95%. The business had revenue of $53.17 million for the quarter, compared to analyst estimates of $39.71 million.
Several brokerages recently weighed in on AKBA. BidaskClub lowered shares of Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, November 2nd. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Needham & Company LLC cut their price objective on shares of Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $13.00 price objective on shares of Akebia Therapeutics in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.75.
The company has a market cap of $427.37 million, a P/E ratio of -5.06 and a beta of 1.10.
TRADEMARK VIOLATION NOTICE: This article was posted by WKRB News and is the property of of WKRB News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.wkrb13.com/2018/11/09/akebia-therapeutics-akba-sees-large-volume-increase-following-strong-earnings.html.
Akebia Therapeutics Company Profile (NASDAQ:AKBA)
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.
Further Reading: Google Finance Portfolio Workaround
Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.