Akebia Therapeutics (AKBA) has disclosed a new risk, in the Accounting & Financial Operations category.
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Akebia Therapeutics has disclosed a material weakness in its financial reporting controls, specifically regarding inventory management as of December 31, 2023. This deficiency raises concerns about the company’s ability to detect or prevent misstatements in its financial statements, which could undermine investor confidence and affect the company’s stock price. Despite remediation efforts, there is no guarantee of timely resolution, potentially leading to increased regulatory scrutiny and adverse business impacts. Future disclosures and corrective actions will be critical to address these risks and restore stakeholder trust.
Overall, Wall Street has a Moderate Buy consensus rating on AKBA stock based on 2 Buys.
To learn more about Akebia Therapeutics’ risk factors, click here.