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AKBA

Akebia

$8.05

-0.07 (-0.86%)

, KERX

Acquired by AKBA 12/18

$2.97

-0.03 (-1.00%)

08:57
11/30/18
11/30
08:57
11/30/18
08:57

Akebia says Glass Lewis recommends shareholders vote for proposed Keryx merger

Akebia Therapeutics (AKBA) announced that independent proxy advisory firm, Glass Lewis & Co., joins Institutional Shareholder Services in recommending that Akebia shareholders vote "FOR" the shareholder proposals relating to the Company's proposed merger with Keryx Biopharmaceuticals (KERX). In its report dated November 29, 2018, Glass Lewis stated:"Based on the foregoing factors and the unanimous support of the board, we believe there is sufficient procedural, strategic and financial cause for investor support here. Accordingly, we recommend shareholders vote FOR this proposal...Speaking first to strategic fit, we believe the fundamental underpinnings of the proposed arrangement are both straightforward and sound...Akebia has, in our view, reasonably elected to partner with another renal disease-focused enterprise with existing sales and marketing infrastructure and an approved treatment." The merger of Akebia and Keryx is subject to the satisfaction of various closing conditions, including approval by shareholders of both companies. The special meeting of Akebia shareholders to vote on matters relating to the proposed merger has been scheduled for December 11, 2018. Holders of record of Akebia common stock as of 5:00 p.m. Eastern Time on October 22, 2018, will be entitled to vote at the special meeting. The Akebia Board of Directors strongly urges Akebia shareholders to vote "FOR" the Akebia proposals set forth in the definitive proxy statement, including "FOR" the proposal to issue shares of Akebia common stock to Keryx shareholders in relation to the proposed merger.

AKBA

Akebia

$8.05

-0.07 (-0.86%)

KERX

Acquired by AKBA 12/18

$2.97

-0.03 (-1.00%)

  • 03

    Dec

  • 11

    Dec

  • 11

    Dec

AKBA Akebia
$8.05

-0.07 (-0.86%)

11/12/18
11/12/18
DOWNGRADE

Market Perform
Raymond James downgrades Keryx to Market Perform ahead of Akebia deal closing
As previously reported, Raymond James analyst Reni Benjamin downgraded Keryx (KERX) to Market Perform from Outperform as he sees shares trading in-line with the market until the merger with Akebia (AKBA) is complete. The potential merger with Akebia is likely to go through by year-end, Benjamin contends. The merged company is likely to become "a fully-integrated renal powerhouse," the analyst added.
10/22/18
MZHO
10/22/18
NO CHANGE
Target $17
MZHO
Buy
Akebia 'significantly undervalued' ahead of catalysts, says Mizuho
Mizuho analyst Difei Yang views Akebia Therapeutics as "significantly undervalued" ahead of catalysts expected in 2019 including data readouts from vadadustat and launch metrics from Auryxia. The stock is one to pay attention to in 2019 following poor performance in 2018 "despite making progress in multiple pivotal trials," Yang tells investors in a research note. She lowered her price target for the shares to $17 from $21 and keeps a Buy rating on Akebia.
09/07/18
MSCO
09/07/18
INITIATION
Target $9
MSCO
Equal Weight
Akebia resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst David Lebowitz resumed coverage of Akebia (AKBA) with an Equal Weight rating and $9 price target, stating that value is primarily driven by the potential of vadadustat as a treatment for anemia associated with chronic kidney disease. Vadadustat is a year behind FibroGen's (FGEN) competing HIF-inhibitor roxadustat and that lead could be an advantage if the data for the two drugs is not sufficiently differentiated, said Lebowitz.
08/23/18
HCWC
08/23/18
NO CHANGE
HCWC
Keryx, Akebia merger remains on track, says H.C. Wainwright
H.C. Wainwright analyst Jason Kolbert believes the merger between Keryx Biopharmaceuticals (KERX) and Akebia Therapeutics (AKBA) remains on track. According to the Federal Trade Commission website, the status of the merger application now shows "granted," Kolbert tells investors in a research note. The analyst says that while he did not expect FTC clearance to be an issue, "it's good to see it granted." He keeps a Buy rating on Keryx with a $9 price target.
KERX Acquired by AKBA 12/18
$2.97

-0.03 (-1.00%)

11/12/18
RAJA
11/12/18
DOWNGRADE
RAJA
Market Perform
Keryx downgraded to Market Perform from Outperform at Raymond James
07/12/18
PIPR
07/12/18
NO CHANGE
Target $22
PIPR
Overweight
Piper incrementally positive on Akebia shares, ups target to $22
Piper Jaffray analyst Christopher Raymond is incrementally positive on shares of Akebia Therapeutics after new nephrologist survey data indicated that Auryxia "has not just turned a corner, but is really on quite a roll, both in terms of the drug's perception and its market share dynamics." With the stock down 4% since before last month's merger announcement with Keryx (KERX), Raymond sees a "significant opportunity" to own Akebia before the drug's near-term share gains and the "real potential of a nephrology powerhouse with both Auryxia and vadadustat, become more apparent." He raised his price target for the shares to $22 from $20 and keeps an Overweight rating on the name.

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