Analyst Highly Confident In Akebia Therapeutics' Kidney Disease-Associated Anemia Drug, Stock Soars
Portfolio Pulse from Vandana Singh
HC Wainwright has upgraded Akebia Therapeutics Inc (NASDAQ:AKBA) from Neutral to Buy rating. The company expects to resubmit its New Drug Application for vadadustat, a drug for anemia due to chronic kidney disease, by the end of Q3 2023. The resubmission includes additional safety data and new data from two alternate dosing studies. Analysts are highly confident in the FDA approval of vadadustat early next year. AKBA shares are up 23.9%.
August 28, 2023 | 6:31 pm
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Akebia Therapeutics has been upgraded from Neutral to Buy by HC Wainwright. The company is expected to resubmit its NDA for vadadustat by Q3 2023. Analysts are confident in FDA approval, leading to a 23.9% increase in AKBA shares.
The upgrade from HC Wainwright and the expected resubmission of the NDA for vadadustat have led to increased confidence in Akebia Therapeutics. This has resulted in a significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100