“We recently met with Akebia management. We continue to see strong potential in vadadustat, a novel HIF-PH inhibitor with blockbuster potential. An important catalyst is expected in 1H19 with top-line data from the Phase 3 Japan studies. While we won’t see a MACE analysis from these trials, efficacy and safety data will nonetheless be important and could offer read-throughs to the on-going Phase III registrational US and EU studies. Second product Auryxia faces potential near-term headwinds on the reimbursement front; we lowered our projections and reduce our PT from $17 to $16. Reiterate Buy.”
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Akebia Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $17.
Based on Akebia Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $26.05 million. In comparison, last year the company had a net profit of $12.28 million.
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Akebia Therapeutics, Inc. is a biopharmaceutical company, which engages in the development and commercialization of novel therapeutics for hypoxia-inducible factor. It also involves in the development and commercialization of drugs for the treatment of renal and metabolic disorders.