BTIG analyst Julian Harrison assumed coverage of Akebia with a Buy rating and $4 price target. Vadadustat has a March 27, 2024 FDA action date in anemia due to chronic kidney disease in adult patients on dialysis, and there is a “compelling disconnect” between the corresponding market opportunity and where Akebia currently trades, the analyst tells investors in a research note. The firm sees vadadustat as offering a convenient alternative to erythropoeitin stimulating agents without several established risks with current standard of care.
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