Akebia price target raised to $6 from $4 at Piper Sandler

Piper Sandler raised the firm’s price target on Akebia (AKBA) to $6 from $4 and keeps an Overweight rating on the shares. The firm says it remains a buyer of Akebia shares following Q4 reporting, which included a look at Vafseo launch progress that Piper finds encouraging. The firm thinks the stock reaction is misplaced given its view that the Vafseo launch is poised to exceed expectations, with Q1 2025 revenue expected to be $10M-$11M, essentially doubling consensus and PSC estimates.