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AKBA · NASDAQ · Biotechnology

Akebia Therapeutics

Markets kidney-disease medicines while advancing rare-renal and HIF programs.

$0.8897

After-hours close+0.01 (+1.13%)

At close$0.8798(−6.38%)

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Profile

Akebia Therapeutics, Inc.AKBAHealth Care

Sells Vafseo for dialysis-related anemia and Auryxia for phosphorus control and iron-deficiency anemia, with partner economics outside the United States and a consolidated reportable structure. The business is concentrated in kidney disease, shaped by dialysis-organization protocols, Auryxia generic pressure, and clinical progress in rare kidney programs.

Markets FDA-approved kidney-disease medicines: Vafseo, an oral HIF-PH inhibitor for anemia due to chronic kidney disease in adults on dialysis, and Auryxia, ferric citrate for dialysis-related phosphorus control and iron-deficiency anemia in non-dialysis CKD.

Operates from Cambridge with a focused commercial organization. Vafseo depends on dialysis-organization contracts and prescribing protocols, while Auryxia remains revenue-relevant but faces generic pressure after loss of exclusivity.

Funds development through product sales, partner economics, and licensing relationships covering Vafseo and ferric citrate outside the U.S. The pipeline includes praliciguat, AKB-097, and earlier HIF programs for rare kidney and related renal conditions.

Company facts

CEOJohn P. Butler

ListedMar 20, 2014

ExchangeNASDAQ

HeadquartersCambridge, MA

CountryUnited States

Employees194

CIK0001517022

ISINUS00972D1054

Key statistics

Market cap$235.7M

EPS (ttm)−$0.1080

P/E (ttm)−8.14

ROE-93.7%

P/B9.47

P/S1.08

Dividend yield—

Beta1.26vs XLV 0.50

Year to date −43.2% · Average volume (30d) 5.8M

Analysts

Price target, next 12 months$1.00+13.6%Median of 12 analysts · vs the Aug 28 close

ConsensusBuy7 of 12 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $0.8800

High$1.00+13.6%

Median$1.00+13.6%

Low$1.00+13.6%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Target
Aug 7, 2026	Leerink Partners	Downgrade	Outperform	Market Perform	$1
Feb 6, 2026	Piper Sandler	Reiterate		Overweight	$4

Earnings

EPS

Estimate−$0.03

ReportedDue Nov 9, 2026

Revenue

Estimate$46.5M

ReportedDue Nov 9, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	−$0.04	−$0.02	+52.4%	$48.9M	$49.1M	+0.6%	−26.02%
May 7, 2026Q1 FY26	−$0.01	−$0.03	−200.0%	$51.7M	$53.5M	+3.6%	−1.69%
Feb 26, 2026Q4 FY25	−$0.03	−$0.05	−66.7%	$46.1M	$57.6M	+25.0%	−0.76%
Nov 10, 2025Q3 FY25	−$0.06	$0.00	+103.3%	$48.4M	$58.8M	+21.5%	+8.38%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$57.3M	$62.5M	$58.8M	$57.6M	$53.5M	$49.1M
Gross profit	$49.7M	$52.6M	$49.1M	$45.4M	$40.9M	$38.7M
Operating income	$13.5M	$14.1M	$4.4M	−$8.6M	−$4.7M	−$6.3M
Net income	$6.1M	$247.0K	$540.0K	−$12.2M	−$9.1M	−$8.9M
Diluted EPS	$0.03	$0.00	$0.00	−$0.05	−$0.03	−$0.03
Gross margin	86.7%	84.1%	83.5%	78.8%	76.4%	78.8%
Operating margin	23.6%	22.6%	7.6%	-14.8%	-8.8%	-12.9%

Fiscal years (4-quarter sums)FY21 $211.7M · FY22 $292.0M · FY23 $194.6M · FY24 $160.2M · FY25 $236.2M

Revenue by product · Q2 FY26

License, Collaboration And Other Revenue$2.4M · 80%

Supply Agreement$500.0K · 17%

License Collaboration And Other Revenue, Royalties$100.0K · 3%

Balance sheet, Jun 30, 2026Cash & short-term investments $155.5M · Total debt $54.0M · Total assets $349.7M · Shareholders' equity $25.0M

Dividends

No dividends on record.

Ownership

Institutions 37.91%101.70M sharesInsiders 3.00%8.06M sharesOther 59.09%158.51M shares

Shares outstanding 268.26M · Float 262.01M · 97.7% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	18.69M	6.97%	13F	May 13, 2026
State Street Corp	11.61M	4.33%	13F	May 15, 2026
Vanguard Capital Management LLC	11.17M	4.16%	13F	May 15, 2026
Geode Capital Management, LLC	6.45M	2.41%	13F	May 15, 2026
John P. Butler · director, officer: CEO and President	3.78M	1.41%	Form 4	Aug 10, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jun 29, 2026	Erik Ostrowski	officer: SVP, CFO, CBO & Treasurer	−56,019	$1.11
Mar 4, 2026	John P. Butler	director, officer: CEO and President	+69,270	$1.25
Feb 2, 2026	John P. Butler	director, officer: CEO and President	−341,305	$1.39
Feb 2, 2026	Erik Ostrowski	officer: SVP, CFO, CBO & Treasurer	−34,951	$1.39
Feb 2, 2026	Carolyn M. Rucci	officer: SVP, Chief Legal Officer	−69,772	$1.39