Akebia Therapeutics Inc. (NASDAQ: AKBA) Could Have Exceptional Returns?

In today’s recent session, 3.1 million shares of the Akebia Therapeutics Inc. (NASDAQ:AKBA) have been traded, and its beta is 0.85. Most recently the company’s share price was $1.50, and it changed around -$0.13 or -8.28% from the last close, which brings the market valuation of the company to $313.01M. AKBA at last check was trading at a discount to its 52-week high of $2.48, offering almost -65.33% off that amount. The share price’s 52-week low was $0.49, which indicates that the recent value has risen by an impressive 67.33% since then. We note from Akebia Therapeutics Inc.’s average daily trading volume that its 10-day average is 14.26 million shares, with the 3-month average coming to 4.35 million.

Akebia Therapeutics Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended AKBA as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Akebia Therapeutics Inc. is expected to report earnings per share of -$0.08 for the current quarter.

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Akebia Therapeutics Inc. (NASDAQ:AKBA) trade information

Instantly AKBA has been showing red trend so far today with a performance of -8.28% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 20.56% year-to-date, but still down -32.35% over the last five days. On the other hand, Akebia Therapeutics Inc. (NASDAQ:AKBA) is -12.57% down in the 30-day period. We can see from the shorts that 10.13 million shares have been sold at a short interest cover period of 3.08 day(s).

The consensus price target as assigned by Wall Street analysts is $6.5, which translates to bulls needing to increase their stock price by 76.92% from its current value. Analyst projections state that AKBA is forecast to be at a low of $6 and a high of $7.

Akebia Therapeutics Inc. (AKBA) estimates and forecasts

Akebia Therapeutics Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 31.14 percent over the past six months and at a 0.00% annual growth rate that is well below the industry average of 8.70%. The year-over-year growth rate is expected to be -2.80%, down from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $46.34 million in revenue for the current quarter. 3 analysts expect Akebia Therapeutics Inc. to make $49.51 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $40.13 million and $56.38 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.50%. Forecasts for the next quarter put sales growth at -12.20%.

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

Upon looking at major shareholders, it appears that insiders hold 2.57% of Akebia Therapeutics Inc. shares, and 26.28% of them are in the hands of institutional investors. The stock currently has a share float of 26.98%. Akebia Therapeutics Inc. stock is held by 100 institutions, with Alerce Investment Management, L.P. being the largest institutional investor. By Dec 30, 2023, it held 7.74% of the shares, which is about 16.21 million shares worth $24.63 million.

Vanguard Group Inc, with 3.63% or 7.61 million shares worth $11.56 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 4.71 million shares worth $7.16 million, making up 2.25% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 2.6 million shares worth around $3.96 million, which represents about 1.24% of the total shares outstanding.