Akebia Therapeutics Inc (AKBA) Earns Buy Rating from Aegis

Aegis reissued their buy rating on shares of Akebia Therapeutics Inc (NASDAQ:AKBA) in a research report sent to investors on Monday morning.

“Matinas announced positive data for MAT2203 (oral amphotericin) in azole- resistant mucocutanous candidiasis (i.e. oral thrush) at the ASM (American Society for Microbiology) conference demonstrating that in the first two patients treated, both patients experienced the target endpoint of >50% clinical response (data below). There are three key points to focus on: 1. Safety: MAT2203 was given for 6-8 weeks (vs 2 weeks or less of standard intravenous amphotericin) with no toxicity. 2. Effective Delivery: MAT2203 won’t release the amphotericin unless it’s effectively delivered to immune cells, which is demonstrated by the clinical responses in both patients. Cochleates are also taken up directly by fungi. 3. Two for Two so far. The study only requires 50% clinical response in 20% of patients, or 3/16. Conclusion: While this is only N=2 so far, the data are suggestive of early efficacy, which in our view represents early proof of concept given that these are long-time (>20 years) drug-resistant patients. As this is an open label study, more data should come soon. In addition, data from the fully enrolled VVC (Vulvovaginal Candidiasis) study is coming in a few weeks. Overall, the most important takeaway is safety.”,” Aegis’ analyst wrote.

AKBA has been the subject of a number of other research reports. Needham & Company LLC reiterated a buy rating and issued a $21.00 price target (up previously from $18.00) on shares of Akebia Therapeutics in a report on Wednesday, May 17th. HC Wainwright reiterated a neutral rating and issued a $25.00 price target (up previously from $21.00) on shares of Akebia Therapeutics in a report on Wednesday, May 17th. JMP Securities increased their price target on shares of Akebia Therapeutics from $19.00 to $21.00 and gave the company an outperform rating in a report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Akebia Therapeutics from a buy rating to a hold rating in a report on Tuesday, February 28th. Finally, ValuEngine upgraded shares of Akebia Therapeutics from a sell rating to a hold rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Akebia Therapeutics has a consensus rating of Buy and an average price target of $18.57.

Shares of Akebia Therapeutics (NASDAQ:AKBA) opened at 13.44 on Monday. The firm’s market cap is $245.95 million. The stock has a 50 day moving average of $12.72 and a 200 day moving average of $10.32. Akebia Therapeutics has a 12 month low of $7.00 and a 12 month high of $15.88.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $1.00. The firm had revenue of $20.87 million for the quarter, compared to analyst estimates of $16.50 million. On average, equities research analysts expect that Akebia Therapeutics will post ($3.46) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of AKBA. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Akebia Therapeutics during the first quarter valued at approximately $6,232,000. Marshall Wace North America L.P. acquired a new stake in shares of Akebia Therapeutics during the first quarter valued at approximately $6,232,000. First Manhattan Co. boosted its stake in shares of Akebia Therapeutics by 64.2% in the first quarter. First Manhattan Co. now owns 1,705,300 shares of the biopharmaceutical company’s stock valued at $15,432,000 after buying an additional 666,800 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Akebia Therapeutics during the fourth quarter valued at approximately $5,593,000. Finally, City Financial Investment Co Ltd acquired a new stake in shares of Akebia Therapeutics during the fourth quarter valued at approximately $3,335,000. Hedge funds and other institutional investors own 49.50% of the company’s stock.

About Akebia Therapeutics

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

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