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Investing Now Could Prove Beneficial For Akebia Therapeutics Inc. (NASDAQ: AKBA)

During the last session, Akebia Therapeutics Inc. (NASDAQ:AKBA)’s traded shares were 1.07 million, with the beta value of the company hitting 0.70. At the end of the trading day, the stock’s price was $1.43, reflecting an intraday gain of 2.88% or $0.04. The 52-week high for the AKBA share is $1.63, that puts it down -13.99 from that peak though still a striking 83.22% gain since the share price plummeted to a 52-week low of $0.24. The company’s market capitalization is $249.88M, and the average intraday trading volume over the past 10 days was 2.08 million shares, and the average trade volume was 1.63 million shares over the past three months.

Akebia Therapeutics Inc. (AKBA) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. AKBA has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.08.

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Akebia Therapeutics Inc. (NASDAQ:AKBA) trade information

Akebia Therapeutics Inc. (AKBA) registered a 2.88% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.88% in intraday trading to $1.43 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 26.55%, and it has moved by 100.17% in 30 days. Based on these gigs, the overall price performance for the year is 342.59%. The short interest in Akebia Therapeutics Inc. (NASDAQ:AKBA) is 4.5 million shares and it means that shorts have 3.97 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.00, which implies an increase of 28.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $2.00 respectively. As a result, AKBA is trading at a discount of -39.86% off the target high and -39.86% off the low.

Akebia Therapeutics Inc. (AKBA) estimates and forecasts

Statistics show that Akebia Therapeutics Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Akebia Therapeutics Inc. (AKBA) shares have gone up 460.78% during the last six months, with a year-to-date growth rate more than the industry average at 23.26% against 13.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -153.30% this quarter and then jump 75.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -33.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $49.1 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $50.6 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $126.76 million and $48.88 million respectively. In this case, analysts expect current quarter sales to shrink by -61.30% and then jump by 3.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 21.50%. While earnings are projected to return 70.30% in 2023.

AKBA Dividends

Akebia Therapeutics Inc. is due to release its next quarterly earnings on May 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Akebia Therapeutics Inc. (NASDAQ:AKBA)’s Major holders

Akebia Therapeutics Inc. insiders own 1.28% of total outstanding shares while institutional holders control 29.15%, with the float percentage being 29.52%. Alerce Investment Management, L.P. is the largest shareholder of the company, while 95 institutions own stock in it. As of Mar 30, 2023, the company held over 16.21 million shares (or 8.72% of all shares), a total value of $9.08 million in shares.

The next largest institutional holding, with 12.51 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6.73% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $7.01 million.

Also, the Mutual Funds coming in first place with the largest holdings of Akebia Therapeutics Inc. (AKBA) shares are Vanguard Explorer Fund, Inc. and Vanguard Extended Market Index Fund. Data provided on Jan 30, 2023 indicates that Vanguard Explorer Fund, Inc. owns about 4.7 million shares. This amounts to just over 2.55 percent of the company’s overall shares, with a $2.96 million market value. The same data shows that the other fund manager holds slightly less at 2.41 million, or about 1.31% of the stock, which is worth about $1.39 million.

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