Leerink Partners Reiterates a Buy Rating on Akebia Therapeutics (AKBA) With a $7 PT

Akebia Therapeutics, Inc. (NASDAQ:AKBA) is one of the 13 Stocks Under $5 With High Upside Potential. On May 29, Leerink Partners analyst Roanna Ruiz maintained a Buy rating on Akebia Therapeutics, Inc. (NASDAQ:AKBA) and set a price target of $7.00.

Why Akebia Therapeutics Inc. (AKBA) Went Down On Thursday?

A biopharmaceutical team in a laboratory analyzing new compounds to develop therapeutics.

The analyst reasoned that Akebia Therapeutics, Inc. (NASDAQ:AKBA) holds potential for growth, as discussions with key opinion leaders (KOLs) point towards considerable momentum for its product Vafseo in the dialysis market. Vafseo currently holds approval for the treatment of anemia in chronic kidney disease (CKD) dialysis patients, and is a notable revenue growth driver for the company, according to Ruiz.

He further said that the non-dialysis CKD market shows another notable opportunity for the company, dependent on the success of the Phase 3 VALOR trial, anticipated to start in H2 2025. The analyst reasoned that the trial holds the potential to enhance the company’s market potential and cause significant expansion of Vafseo’s label.

Akebia Therapeutics, Inc. (NASDAQ:AKBA) is a biopharmaceutical company that develops and commercializes therapeutics for kidney diseases and renal and metabolic disorders. Its product pipeline includes Auryxia and Vadadustat.

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Disclosure: None.