AKBA stock touches 52-week high at $2.48 amid robust gains

Published 18/03/2025, 18:02
AKBA stock touches 52-week high at $2.48 amid robust gains

Akebia Therapeutics Inc. (NASDAQ: NASDAQ:AKBA) stock soared to a 52-week high, reaching a price level of $2.48, marking a significant milestone for the biopharmaceutical company. According to InvestingPro data, the company’s market capitalization now stands at $567 million, with analyst price targets ranging from $6 to $10. This peak comes as a beacon of positive performance in the company’s financial journey, with InvestingPro showing remarkable returns of 77.78% over the past six months and 24.35% in just the last week. Investors and market analysts are closely monitoring Akebia’s progress, as the stock’s robust ascent to this new high could signal underlying strength in the company’s operations and market strategy. The 52-week high serves as a key indicator for potential investors who are gauging the stock’s momentum and considering the long-term growth prospects of Akebia Therapeutics. Get access to 7 more exclusive InvestingPro Tips and comprehensive analysis through the Pro Research Report, available for over 1,400 US stocks.

In other recent news, Akebia Therapeutics announced its Q4 2024 earnings, reporting a net loss with revenues falling short of expectations at $46.49 million, compared to the anticipated $49.57 million. The company also missed its earnings per share forecast, posting -$0.10 against an expected -$0.07. Despite these financial setbacks, Akebia’s new product, Vafseo, showed strong early commercial performance. The drug’s net sales for the first quarter of 2025 are projected to be between $10 million and $11 million, surpassing previous consensus estimates. Analysts at H.C. Wainwright and Piper Sandler have expressed optimism about Vafseo’s market potential, with H.C. Wainwright maintaining a Buy rating and a $7.50 price target, and Piper Sandler raising their price target from $4.00 to $6.00. Akebia’s strategy to secure contracts with dialysis organizations and build prescriber demand is credited for Vafseo’s promising launch. The drug’s uptake among Medicare Advantage patients is seen as a positive indicator of market acceptance. Despite the recent earnings miss, analysts remain confident in Akebia’s commercial trajectory and the potential success of Vafseo in the dialysis market.

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