Roger Song, an analyst from Jefferies, has initiated a new Buy rating on Akebia Therapeutics (AKBA).
Roger Song has given his Buy rating due to a combination of factors that highlight Akebia Therapeutics’ promising market position and growth potential. The company is focusing on its lead product, Vafseo, which is an oral treatment for dialysis-dependent chronic kidney disease (DD-CKD) anemia. This product is expected to perform well due to its clinical advantages over the current standard of care, such as a more physiological mechanism of action and ease of administration. Additionally, favorable reimbursement conditions under the TDAPA program are likely to support revenue growth through 2026.
Another factor contributing to the Buy rating is the limited competition in the market, as Vafseo is the only HIF-PH approved in the United States. The company also plans to expand into the non-dialysis-dependent CKD market, which presents a significant opportunity due to unmet needs and a large target population. Furthermore, Akebia’s pipeline includes promising early-stage products that could offer long-term growth potential. These strategic initiatives and the potential for Vafseo to capture a substantial market share underpin the positive outlook for Akebia Therapeutics.
According to TipRanks, Song is an analyst with an average return of -23.1% and a 24.21% success rate. Song covers the Healthcare sector, focusing on stocks such as Altimmune, United Therapeutics, and TG Therapeutics.
In another report released on March 26, Piper Sandler also maintained a Buy rating on the stock with a $6.00 price target.