Mizuho Securities analyst Difei Yang reiterated a Buy rating on Akebia Therapeutics (AKBA) today. The company’s shares closed yesterday at $6.45, close to its 52-week low of $5.20.
Yang noted:
“We recently met with Akebia management. We continue to see strong potential in vadadustat, a novel HIF-PH inhibitor with blockbuster potential. An important catalyst is expected in 1H19 with top-line data from the Phase 3 Japan studies. While we won’t see a MACE analysis from these trials, efficacy and safety data will nonetheless be important and could offer read-throughs to the on-going Phase III registrational US and EU studies. Second product Auryxia faces potential near-term headwinds on the reimbursement front; we lowered our projections and reduce our PT from $17 to $16. Reiterate Buy.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.3% and a 47.2% 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 $17.
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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.
