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On Wednesday, H.C. Wainwright analysts assumed coverage of Akebia Therapeutics (NASDAQ: NASDAQ:AKBA) stock, assigning it a Buy rating and setting a price target of $8.00. The stock has shown remarkable momentum, delivering a 202% return over the past year. The decision reflects confidence in Akebia’s product Vafseo (vadadustat), which is approved for treating anemia in adults with chronic kidney disease (CKD) who are undergoing dialysis. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $6 to $10.
Vafseo has been gaining traction among dialysis organizations, and its launch is expected to counteract the generic impact on Akebia’s other product, Auryxia (ferric citrate), which targets hyperphosphatemia. The company maintains a healthy financial position with a current ratio of 2.23, indicating strong ability to meet short-term obligations. The ongoing rollout of Vafseo is currently focused on dialysis patients, but there is also potential in the non-dialysis segment, with a Phase 3 trial anticipated in the second half of 2025.
The analysts note that by January 2025, contracts covering nearly all U.S. dialysis patients will be in place, setting the stage for Vafseo’s near-term success. The oral tablet form of Vafseo offers dosing flexibility, ranging from 150mg to 600mg, which could drive increased prescriptions.
The report highlights the potential for Vafseo to benefit patients who rely on erythropoiesis-stimulating agents and iron supplementation therapy. The analysts expect further growth facilitated by uptake among dialysis organizations, particularly large ones.
In other recent news, Akebia Therapeutics reported its Q1 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.03 compared to the anticipated -$0.05. The company’s revenues reached $57.3 million, exceeding the projected $44.38 million. This performance marks a significant turnaround from a net loss of $18 million to a net income of $6.1 million, attributed to strong sales of its products, particularly Vafcio and Auryxia. Akebia also maintains a positive cash position with $113.4 million in cash and equivalents. The company plans to initiate the Phase III VALOR trial in the second half of 2025, aiming to expand its market reach. Analysts from firms like Leerink Partners and Jefferies expressed interest in the company’s progress and future plans. Akebia continues to focus on advancing its HIF-PH inhibitor pipeline while remaining vigilant about potential generic competition for Auryxia.
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