Akebia Therapeutics (AKBA:NSD) HC Wainwright boosts target by 60 Percent

Akebia Therapeutics Analyst Ratings

HC Wainwright (Rank#39) has recently revised its price target for Akebia Therapeutics (AKBA), a biopharmaceutical company that develops innovative therapeutics for kidney diseases. The bank has increased its target price from USD 1.25 to USD 2, implying a potential upside of 60% from the current stock price of USD 1.25.

Akebia Therapeutics has a strong pipeline of drug candidates that target various kidney diseases, including anemia associated with chronic kidney disease (CKD), inflammation, and fibrosis. The company’s lead product candidate, Vadadustat, is an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) that stimulates the production of red blood cells and improves anemia in CKD patients. Vadadustat has demonstrated promising results in clinical trials and has the potential to become a blockbuster drug, with a market size estimated at USD 7 billion.

HC Wainwright’s target increase for Akebia Therapeutics is driven by several factors. Firstly, the recent positive clinical trial data for Vadadustat has increased the likelihood of regulatory approval and commercial success. In March 2023, Akebia Therapeutics announced positive top-line data from the Phase 3 PRO2TECT trial, which demonstrated the non-inferiority of Vadadustat compared to darbepoetin alfa, the current standard of care for anemia in CKD patients. This data has strengthened the company’s case for regulatory approval and market penetration.

Secondly, Akebia Therapeutics has a strong financial position, with a cash balance of USD 280 million as of December 31, 2022. This provides the company with the necessary resources to fund its operations and pipeline development without the need for additional capital raises. The company also has a partnership with Otsuka Pharmaceutical Co. Ltd., a Japanese multinational pharmaceutical company, which provides additional resources and expertise in drug development and commercialization.

Lastly, Akebia Therapeutics has a compelling valuation compared to its peers in the biopharmaceutical industry. The company’s current market capitalization is approximately USD 426 million, which is significantly below the estimated market size for Vadadustat. This suggests that there is significant upside potential for the stock if the drug is successfully commercialized.

HC Wainwright’s analytical forecast and target increase for Akebia Therapeutics reflects the company’s strong pipeline of drug candidates, positive clinical trial data for Vadadustat, strong financial position, and compelling valuation. Akebia Therapeutics presents an attractive investment opportunity for investors seeking exposure to the biopharmaceutical industry.

AKBA Stock Forecast & Analysis

The average target price for Akebia Ther is USD 2.00 according to one analyst, and the average analyst rating is not available. Stock Target Advisor’s analysis is bearish based on 1 positive signal and 7 negative signals. The stock price of Akebia Ther closed at USD 0.71, with a weekly change of +4.75%, a monthly change of +11.80%, and a yearly change of +51.74%.

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