Akebia Therapeutics (NASDAQ:AKBA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued to investors on Monday, AnalystRatings.com reports. They currently have a $17.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 214.81% from the stock’s previous close.
The analysts wrote, “We continue to believe that positive outcomes, on both safety and efficacy, from all four studies is highly likely, and with data directly comparing its outcomes to the current standard of care in both DD and NDD patients, we continue to believe Akebia is well positioned for clinical, regulatory and commercial success. Affirm Buy. $17 PT. We employ a rNPV model, driven by U.S. sales of vadadustat (early 2022 launch, 75% POS, $2.5B peak U.S. sales) and Auryxia (peak sales of $409M in 2024) out to 2028 (zero terminal value) discounted at 12.5%. Risks to our investment thesis and target price include: (1) failure in pivotal Phase 3 vadadustat studies; (2) failure to secure regulatory approval of vadadustat; (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing; and (4) intellectual property opposition.””
Several other research analysts have also commented on AKBA. Mizuho set a $16.00 price target on Akebia Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, July 12th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BidaskClub lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Akebia Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $12.45.
Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. The firm had revenue of $100.80 million during the quarter, compared to the consensus estimate of $88.35 million. Akebia Therapeutics had a negative net margin of 75.64% and a negative return on equity of 36.92%. Research analysts forecast that Akebia Therapeutics will post -1.41 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sun Life Financial INC increased its stake in Akebia Therapeutics by 9.3% during the 2nd quarter. Sun Life Financial INC now owns 34,162 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 2,907 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Akebia Therapeutics during the 1st quarter worth $160,000. DekaBank Deutsche Girozentrale grew its stake in Akebia Therapeutics by 1,473.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 324,200 shares of the biopharmaceutical company’s stock worth $1,501,000 after purchasing an additional 303,600 shares in the last quarter. Sofinnova Investments Inc. grew its stake in Akebia Therapeutics by 64.2% during the 2nd quarter. Sofinnova Investments Inc. now owns 848,356 shares of the biopharmaceutical company’s stock worth $4,106,000 after purchasing an additional 331,595 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Akebia Therapeutics during the 2nd quarter worth about $52,000. 71.88% of the stock is owned by institutional investors and hedge funds.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.
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