Analyst Ed Arce of H.C. Wainwright maintained a Buy rating on Akebia Therapeutics (AKBA – Research Report), retaining the price target of $7.50.
Ed Arce has given his Buy rating due to a combination of factors that highlight Akebia Therapeutics’ promising market performance and strategic initiatives. The recent launch of Vafseo (vadadustat) has shown strong commercial traction, with net sales guidance for the first quarter significantly exceeding prior Street consensus. This early success is attributed to Akebia’s effective ‘coiled spring’ strategy, which focused on securing contracts and building prescriber demand to facilitate rapid patient transitions to Vafseo.
Furthermore, the VOICE trial, which is over 50% enrolled, aims to provide real-world evidence supporting Vafseo’s benefits for patients undergoing in-center hemodialysis. This trial, conducted in collaboration with USRC, could potentially lead to a revised label if the results are positive. These developments, alongside the early uptake by Medicare Advantage patients, suggest a strong start for Vafseo in the U.S. market, underpinning the Buy rating.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $6.00 price target.