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AKBA

Akebia

$15.48

0.51 (3.41%)

07:09
01/04/18
01/04
07:09
01/04/18
07:09

Akebia: Data in Phase 2 study consistent with findings from previous studies

Akebia Therapeutics announced top-line results from its Phase 2 study of vadadustat in patients with anemia associated with dialysis-dependent chronic kidney disease in Japan. The results are consistent with findings from previous studies of vadadustat. Akebia's partner, Mitsubishi Tanabe Pharma Corporation, is conducting a Phase 3 study of non-dialysis dependent patients in Japan and, based upon the data announced today, is expected to begin Phase 3 studies in DD-CKD patients in Japan in 2018. Under the terms of the collaboration agreement with MTPC, Akebia will receive $10M in milestone payments in conjunction with the start of the Phase 3 studies. The double-blind, placebo-controlled, dose-finding Phase 2 study was designed to evaluate the efficacy, safety and tolerability of orally-administered vadadustat in Japanese patients with anemia associated with DD-CKD. This 16-week study evaluated 60 patients during a 6-week placebo-controlled, fixed-dose period and a 10-week active treatment, dose adjustment and maintenance period. The primary efficacy endpoint was mean hemoglobin change from baseline to week 6 comparing vadadustat to placebo. Statistically significant improvements in the primary endpoint were observed in the vadadustat groups, 150 mg, 300 mg and 600 mg, compared to placebo. The data indicate a dose-response for vadadustat.

AKBA Akebia
$15.48

0.51 (3.41%)

11/15/17
HCWC
11/15/17
NO CHANGE
Target $24
HCWC
Buy
Akebia recent selloff not based on fundamentals, says H.C. Wainwright
H.C. Wainwright analyst Ed Arce notes that since the close on November 8, shares of FibroGen (FGEN) are down 17% while Akebia Therapeutics (AKBA) is down 21.3%. He attributes some of the weakness to FibroGen's Q3 earnings call, in which concerns arose that cardiovascular events in the large Phase 3 roxadustat cardiovascular outcomes trials are accruing too slowly. The analyst believes this has no fundamental bearing on Akebia or vadadustat, however. He keeps a Buy rating on the shares with a $24 price target.
12/07/17
BTIG
12/07/17
INITIATION
Target $30
BTIG
Buy
Akebia initiated with a Buy at BTIG
BTIG analyst Robert Hazlett initiated Akebia with a Buy rating and a price target of $30. Hazlett says the company's development of Vadadustat - an HIF-PH inhibitor for anemia secondary to chronic kidney disease - has the potential to attain "hemoglobin control with material advantages compared to current standard-of-care injectable erythropoiesis stimulating agents". With its development partnerships in Japan and EU, the treatment is in a Phase 3 program expected for readouts in the first half of 2019.
12/07/17
12/07/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Sogou (SOGO) initiated with an Overweight at JPMorgan. 2. Amag Pharmaceuticals (AMAG) initiated with a Neutral at B. Riley FBR. 3. Akebia (AKBA) initiated with a Buy at BTIG. 4. Synnex (SNX) initiated with a Buy at SunTrust. 5. Cancer Genetics (CGIX) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/18/17
PIPR
12/18/17
INITIATION
Target $26
PIPR
Overweight
Akebia initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Christopher Raymond initiated Akebia (AKBA) with an Overweight rating and a price target of $26. The analyst cites the company's "combination of sound biology, clean safety, meaningful unmet medical need and an attractive relative valuation". While the near term prospects for Akebia revolve around first-to- market player Fibrogen (FGEN) in the HIF space, the analyst contends, Akebia can generate its own share of anemia market once its lead compound vadadustat is approved.

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