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Akebia Therapeutics, Inc.

AKBA NASDAQ Categories PDF
Healthcare · Biotechnology · United States · Updated May 11, 1:57pm
$1.21
Price
$323.3M
Market Cap
181
Employees
0.35
Beta
John Butler
CEO
Business Description

Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients. It also offers Auryxia, a ferric citrate that is used to control the serum phosphorus levels in adult patients with DD-CKD on dialysis; and the treatment of iron deficiency anemia in adult patients with CKD not on dialysis. Akebia Therapeutics, Inc. has collaboration agreements with Otsuka Pharmaceutical Co. Ltd. for the development and commercialization of vadadustat in the United States, the European Union, Russia, China, Australia, Canada, the Middle East, and other countries; and Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in Japan and other Asian countries, as well as research and license agreement with Janssen Pharmaceutica NV for the development and commercialization of hypoxia-inducible factor prolyl hydroxylase targeted compounds worldwide. The company was incorporated in 2007 and is headquartered in Cambridge, Massachusetts.

Business History
Price Overview
Last updated: May 11, 2026 1:57pm (just now)
$1.21
+0.05 (+3.88%)
Day Range
$1.14 – $1.23
52-Week Range
$1.13 – $4.08
50-Day MA
$1.39
200-Day MA
$2.04
Volume
3,050,264.42
Analyst Price Targets
Low $4.00
Consensus $4.00
High $4.00
(3 analysts)
Share Structure
Outstanding 268,257,999.00
Float 262,584,581.00
Free Float 97.9%
High free float — 97.9% of shares trade freely, ~2.1% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-57.93
Stock Price: $1.21
EPS (Diluted): -0.02
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
12.70
Stock Price: $1.21
Total Equity: $32.61M
Shares: 257,157,782
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
61.06
Market Cap: $323.25M
Total Debt: $216.30M
Cash: $184.84M
EBITDA: $21.73M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$445.5M
Market Cap: $323.25M
Total Debt: $216.30M
Cash: $184.84M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
83.3%
Gross Profit: $196.73M
Revenue: $236.20M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
9.9%
Operating Income: $23.50M
Revenue: $236.20M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-2.3%
Net Income: -$5.35M
Revenue: $236.20M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-62.7%
Net Income: -$5.35M
Total Equity: $32.61M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
2.6%
Operating Income: $23.50M
Tax Rate: -43.6%
Equity: $32.61M
Total Debt: $216.30M
Cash: $184.84M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
1.13
Current Assets: $184.84M
Current Liabilities: $162.94M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
6.63
Short-Term Debt: $40.08M
Long-Term Debt: $176.21M
Total Debt: $216.30M
Total Equity: $32.61M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$0.92
Revenue: $236.20M
Shares: 257,157,782
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$0.13
Total Equity: $32.61M
Shares: 257,157,782
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.26
Operating CF: $67.99M
CapEx: -$291,000
Shares: 257,157,782
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.21
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$5.35M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AKBA against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $211.7M $292.5M $194.6M $160.2M $236.2M
Cost of Revenue $81.5M $22.5M $74.1M $63.2M $39.5M
Gross Profit $130.2M $270.0M $120.5M $97.0M $196.7M
Operating Expenses $394.7M $350.8M $166.7M $147.5M $173.2M
Operating Income -$264.5M -$80.8M -$46.3M -$50.5M $23.5M
Net Income -$282.0M -$94.2M -$51.9M -$69.4M -$5.3M
EBITDA -$189.9M $3.1M -$8.3M -$13.7M $21.7M
EPS $-1.48 $-0.58 $-0.28 $-0.33 $-0.02
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $149.8M $90.5M $42.9M $51.9M $184.8M
Total Current Assets $271.1M $185.2M $118.1M $113.8M $184.8M
Total Assets $529.3M $356.1M $241.7M $220.7M $376.6M
Current Liabilities $261.1M $129.5M $99.9M $80.9M $162.9M
Long-Term Debt $0 $34.1M $71.2M $175.5M $176.2M
Total Liabilities $455.3M $350.8M $272.3M $269.9M $344.0M
Total Equity $74.0M $5.2M -$30.6M -$49.2M $32.6M
Retained Earnings -$1.5B -$1.6B -$1.6B -$1.7B -$1.7B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow -$253.0M -$73.2M -$23.4M -$40.7M $68.0M
Capital Expenditure $-59,000 $-114,000 $0 $-33,000 $-291,000
Free Cash Flow -$253.0M -$73.3M -$23.4M -$40.7M $68.0M
Acquisitions (net) $0 $0 $0 $0 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 $0 $0 -$1.3M $0
Net Change in Cash -$79.3M -$58.7M -$48.6M $9.0M $133.0M
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $165.4M
$164.5M – $166.9M
 $202.5M
$187.5M – $215.2M
 $222.6M
$206.1M – $236.5M
 $263.0M
$243.5M – $279.5M
EBITDA -$30.5M
-$30.8M – -$30.4M
 -$37.4M
-$39.7M – -$34.6M
 -$41.1M
-$43.7M – -$38.0M
 -$48.6M
-$51.6M – -$45.0M
Net Income -$50.6M
-$93.4M – -$18.7M
 $6.4M
-$237.9M – $178.4M
 -$11.6M
-$12.5M – -$10.5M
 $1.7M
$1.5M – $1.9M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +38.2% -33.5% -17.7% +47.5%
Gross Profit Growth +107.4% -55.4% -19.5% +102.8%
Operating Income Growth +69.5% +42.7% -9.1% +146.6%
Net Income Growth +66.6% +44.9% -33.7% +92.3%
EBITDA Growth +101.6% -370.5% -66.0% +258.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-04-01 Vickers Philip J. A-Award 214,400.00 $1.41 $302,304
2026-04-01 Vickers Philip J. 0.00 $0.00 $0
2026-03-04 Butler John P. P-Purchase 69,270.00 $1.25 $86,588
2026-02-02 Malabre Richard C S-Sale 36,142.00 $1.39 $50,237
2026-02-02 Malabre Richard C S-Sale 13,382.00 $1.39 $18,601
2026-02-02 Grund Nicholas S-Sale 53,585.00 $1.39 $74,483
2026-02-02 Grund Nicholas S-Sale 31,244.00 $1.39 $43,429
2026-02-02 Burke Steven Keith S-Sale 21,582.00 $1.39 $29,999
2026-02-02 Burke Steven Keith S-Sale 25,375.00 $1.39 $35,271
2026-02-02 Burke Steven Keith S-Sale 20,701.00 $1.39 $28,774
2026-02-02 Rucci Carolyn M. S-Sale 16,846.00 $1.39 $23,416
2026-02-02 Rucci Carolyn M. S-Sale 25,382.00 $1.39 $35,281
2026-02-02 Rucci Carolyn M. S-Sale 27,544.00 $1.39 $38,286
2026-02-02 Ostrowski Erik S-Sale 34,951.00 $1.39 $48,582
2026-02-02 Butler John P. S-Sale 46,660.00 $1.39 $64,857
2026-02-02 Butler John P. A-Award 175,250.00 $1.41 $247,103
2026-02-02 Butler John P. S-Sale 96,065.00 $1.39 $133,530
2026-02-02 Butler John P. S-Sale 83,689.00 $1.39 $116,328
2026-02-02 Butler John P. S-Sale 114,891.00 $1.39 $159,698
2026-01-30 Grund Nicholas A-Award 204,000.00 $0.00 $0
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27