In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Akebia Therapeutics (AKBA), with a price target of $16. The company’s shares closed yesterday at $8.17.
Yang wrote:
“We continue to see vadadustat as the key value driver for Akebia; Japan partner Mitsibishi Tanabe (MTZPY, Not-rated) expects to submit a Japanese NDA in 2019 following positive Japan Phase III results reported recently. Enrollment in the global Phase III trials is either completed or on track to complete in 2019 with data anticipated in 2Q20 (dialysis-dependent) and mid-2020 (non-dialysis dependent).”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.3% and a 51.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
Akebia Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $19, a 132.6% upside from current levels. In a report issued on March 12, Piper Jaffray also maintained a Buy rating on the stock with a $22 price target.
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Based on Akebia Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $26.05 million. In comparison, last year the company had a net profit of $12.28 million.
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Akebia Therapeutics, Inc. is a biopharmaceutical company, which engages in the development and commercialization of novel therapeutics for hypoxia-inducible factor. It also involves in the development and commercialization of drugs for the treatment of renal and metabolic disorders.
