In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Akebia Therapeutics (AKBA – Research Report), with a price target of $7.50.
Ed Arce has given his Buy rating due to a combination of factors surrounding Akebia Therapeutics’ strategic developments and potential market opportunities. The recent positive opinion from the EMA’s Committee for Medicinal Products for Human Use (CHMP) regarding XOANACYL, a treatment for CKD patients, is a significant milestone. This opinion is likely to lead to European Commission approval, enhancing Akebia’s market presence in Europe through its partner Averoa.
Additionally, Akebia’s focus on the U.S. market with Vafseo for anemia in CKD patients and the upcoming VALOR Phase 3 study for non-dialysis dependent patients further strengthens its growth prospects. The strategic partnership with Averoa, which includes potential favorable pricing and royalties from ferric citrate sales, adds to the financial upside. These elements collectively support the Buy rating, reflecting confidence in Akebia’s ability to capitalize on these opportunities.
In another report released on April 1, Jefferies also initiated coverage with a Buy rating on the stock with a $6.00 price target.