Akebia Therapeutics (AKBA) PT Raised to $25 at Aegis Capital; Deal Lifts Financial Overhang
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Aegis Capital raised its price target on Akebia Therapeutics (NASDAQ: AKBA) to $25.00 (from $21.00) while maintaining a Buy rating.
Analyst said the Otsuka collaboration lifts the financial overhang. Akkebia is eligible to receive up to $657 mil in milestones payments and double-digit, tiered royalty payments on up to 30% of vadadustat net sales. On the call, management mentioned that the breakdown of milestone payments were $132 mil for regulatory and $525 mil for commercial, analyst Difei Yang noted.
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