Akebia Therapeutics (NASDAQ:AKBA) Announces Earnings Results

Akebia Therapeutics (NASDAQ:AKBA) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01), FiscalAI reports. The business had revenue of $36.90 million during the quarter, compared to analyst estimates of $46.94 million. Akebia Therapeutics had a negative return on equity of 88.88% and a negative net margin of 13.54%.

Here are the key takeaways from Akebia Therapeutics’ conference call:

• The 2,116-patient VOICE trial showed a 10% reduction in hospitalizations with Vafseo versus ESA and met its primary endpoint for superiority, with no significant mortality difference. Akebia also reported VOCAL topline results showing Vafseo was non-inferior to ESA in maintaining hemoglobin with three-times-weekly dosing.
• Vafseo patients on therapy grew about 140% year over year, but Q3 product revenue rose only 3% to $14.8 million. Akebia attributed the gap to customer inventory drawdowns tied to lower-than-expected dosing and dialysis attendance, estimating underlying Q3 end-user demand at $19–$20 million.
• As Vafseo’s separate TDAPA reimbursement ends on January 1, 2027, Akebia expects annual therapy costs to fall to roughly $1,000–$1,500, reflecting lower ESA prices, dosing, and compliance. DaVita plans a gradual rollout, while Fresenius remains interested but is expected to move more slowly.
• Q3 total revenue fell to $36.9 million from $58.8 million a year earlier, largely as Auryxia revenue dropped to $20 million from $42.5 million amid generic competition and pricing pressure. Akebia recorded a $14.4 million net loss, compared with $0.5 million of net income in Q3 2025.
• Akebia’s phase II trials of praliciguat in FSGS and ebribafusp across C3G, IgAN, and lupus nephritis are enrolling; initial ebribafusp data are expected in 2027, while no praliciguat data timing was provided. The company ended the quarter with $159.3 million in cash and said it expects to fund its current operating plan for at least two years.

Akebia Therapeutics Stock Performance

Shares of NASDAQ AKBA traded down $0.27 during midday trading on Thursday, hitting $0.43. The stock had a trading volume of 17,222,328 shares, compared to its average volume of 8,731,314. Akebia Therapeutics has a fifty-two week low of $0.42 and a fifty-two week high of $2.11. The company has a quick ratio of 1.35, a current ratio of 1.43 and a debt-to-equity ratio of 0.99. The company’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $1.13.

Analysts Set New Price Targets

AKBA has been the subject of a number of research reports. Leerink Partners lowered Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 target price for the company. in a research note on Friday, August 7th. HC Wainwright reiterated a “buy” rating on shares of Akebia Therapeutics in a research report on Thursday, August 6th. Westpark Capital began coverage on shares of Akebia Therapeutics in a report on Tuesday, September 8th. They set a “buy” rating and a $4.50 price objective on the stock. Wall Street Zen upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, BTIG Research restated a “buy” rating and issued a $4.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, September 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.90.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for patients with kidney disease and related conditions. The company’s primary areas of interest include anemia associated with chronic kidney disease (CKD), iron deficiency, and disorders involving mineral metabolism.

Akebia’s key product is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to stimulate the body’s natural production of erythropoietin and support red blood cell formation.