Akebia Therapeutics Inc. (NASDAQ: AKBA) stock jumped 3.91% on Friday to $0.74 against a previous-day closing price of $0.71. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.71 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.7447 whereas the lowest price it dropped to was $0.6900. The 52-week range on AKBA shows that it touched its highest point at $2.93 and its lowest point at $0.24 during that stretch. It currently has a 1-year price target of $1.62. Beta for the stock currently stands at 0.91.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AKBA was up-trending over the past week, with a rise of 6.80%, but this was up by 84.32% over a month. Three-month performance surged to 171.52% while six-month performance rose 66.31%. The stock lost -64.74% in the past year, while it has gained 27.71% so far this year. A look at the trailing 12-month EPS for AKBA yields -0.88 with Next year EPS estimates of -0.45. For the next quarter, that number is -0.14. This implies an EPS growth rate of 38.50% for this year and 26.20% for next year.
Float and Shares Shorts:
At present, 183.88 million AKBA shares are outstanding with a float of 181.19 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.29 million, which was 3.42% higher than short shares on Sep 14, 2022. In addition to Mr. John P. Butler MBA as the firm’s CEO, Pres & Director, Mr. David A. Spellman serves as its Sr. VP, CFO & Treasurer.
Through their ownership of 33.32% of AKBA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.44% of AKBA, in contrast to 14.46% held by mutual funds. Shares owned by individuals account for 11.75%. As the largest shareholder in AKBA with 7.13% of the stake, The Vanguard Group, Inc. holds 13,122,868 shares worth 13,122,868. A second-largest stockholder of AKBA, Acadian Asset Management LLC, holds 7,483,053 shares, controlling over 4.07% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in AKBA, holding 4,012,751 shares or 2.18% stake. With a 2.55% stake in AKBA, the Vanguard Explorer Fund is the largest stakeholder. A total of 4,698,164 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.31% of AKBA stock, is the second-largest Mutual Fund holder. It holds 2,412,371 shares valued at 1.39 million. Vanguard Total Stock Market Index holds 1.31% of the stake in AKBA, owning 2,410,502 shares worth 1.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AKBA since 2 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AKBA analysts setting a high price target of $2.00 and a low target of $1.25, the average target price over the next 12 months is $1.63. Based on these targets, AKBA could surge 170.27% to reach the target high and rise by 68.92% to reach the target low. Reaching the average price target will result in a growth of 120.27% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AKBA will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.58 being high and -$0.60 being low. For AKBA, this leads to a yearly average estimate of -$0.59. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Akebia Therapeutics Inc. surprised analysts by -$0.11 when it reported -$0.28 EPS against a consensus estimate of -$0.17. The surprise factor in the prior quarter was $0.47. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.14.
Summary of Insider Activity:
Insiders traded AKBA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 1,236,158 while 167,724 shares were sold.