Akebia Therapeutics Inc. (NASDAQ: AKBA): Performance Review And Growth Outlook

In the latest trading session, 0.62 million Akebia Therapeutics Inc. (NASDAQ:AKBA) shares changed hands as the company’s beta touched 0.80. With the company’s most recent per share price at $1.65 changing hands around $0.01 or 0.89% at last look, the market valuation stands at $311.71M. AKBA’s current price is a discount, trading about -11.52% off its 52-week high of $1.84. The share price had its 52-week low at $0.49, which suggests the last value was 70.3% up since then. When we look at Akebia Therapeutics Inc.’s average trading volume, we note the 10-day average is 1.83 million shares, with the 3-month average coming to 1.77.

Akebia Therapeutics Inc. (NASDAQ:AKBA) trade information

Instantly AKBA is in green as seen in intraday trades today. With action 0.28%, the performance over the past five days has been green. The jump to weekly highs of 1.7300 added 0.89% to the stock’s daily price. The company’s shares are showing year-to-date upside of 33.44%, with the 5-day performance at 0.28% in the green. However, in the 30-day time frame, Akebia Therapeutics Inc. (NASDAQ:AKBA) is 6.75% up. Looking at the short shares, we see there were 8.78 million shares sold at short interest cover period of 3.88 days.

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Akebia Therapeutics Inc. (AKBA) estimates and forecasts

Data shows that the Akebia Therapeutics Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 31.32% over the past 6 months, a 25.58% in annual growth rate that is considerably higher than the industry average of 11.60%. Year-over-year growth is forecast to reach -33.70% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $55.39 million. 3 analysts are of the opinion that Akebia Therapeutics Inc.’s revenue for the quarter ending Mar 2024 will be $41.61 million. The company’s revenue for the corresponding quarters a year ago was $55.18 million and $40.13 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.40%. The estimates for the next quarter sales put growth at 3.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.17%. The 2024 estimates are for Akebia Therapeutics Inc. earnings to increase by 39.71%.

AKBA Dividends

Akebia Therapeutics Inc. is expected to release its next quarterly earnings report between March 07 and March 11.

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

If we look at who the major shareholders are, we find that insiders hold 2.96% of Akebia Therapeutics Inc. shares while 26.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 27.80%. There are 26.97% institutions holding the Akebia Therapeutics Inc. stock share, with Alerce Investment Management, L.P. the top institutional holder. As of Jun 29, 2023, the company held 8.61% of the shares, roughly 16.21 million AKBA shares worth $14.83 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.15% or 7.81 million shares worth $7.15 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 4.07 million shares estimated at $3.72 million under it, the former controlled 2.16% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.38% of the shares, roughly 2.6 million shares worth around $2.38 million.

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