In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Akebia Therapeutics (AKBA), with a price target of $17. The company’s shares closed yesterday at $9.15.
Yang noted:
“We applied a weighted average valuation methodology to value Akebia using DCF and EV/Sales under assumptions of commercialization of vadadustat in the U.S. for the U.S. for DD-CKD in 2021. For rest of the world royalties, we assume commercialization starting in 2022 for both indications. Our probability of success is currently 70%. In addition, we include revenues from Auryxia in the U.S. starting in 1Q19 resulting from the merger of Akebia with Keryx Biopharmaceuticals. Our peak-sales estimate for Auryxia is $312 mil in 2028.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.6% and a 45.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Akebia Therapeutics is a Moderate Buy with an average price target of $17.
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The company has a one-year high of $15.86 and a one-year low of $6.68. Currently, Akebia Therapeutics has an average volume of 631.7K.
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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.
