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Increased Earnings Estimates Seen for Akebia Therapeutics (AKBA): Can It Move Higher?

Akebia Therapeutics, Inc. AKBA is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AKBA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Akebia Therapeuticscould be a solid choice for investors.

Current Quarter Estimates for AKBA

In the past 30 days, 1 estimate has gone higher for Akebia Therapeuticswhile none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 55 cents a share 30 days ago, to a loss of 23 cents today, a move of 58.2%.

Current Year Estimates for AKBA

Meanwhile, Akebia Therapeutics’ current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.49 per share 30 days ago to a loss of $1.76 per share today, an increase of 29.3%.

Bottom Line

The stock has also started to move higher lately, adding 8.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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AKEBIA THERAP (AKBA): Free Stock Analysis Report
 
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