Akebia Therapeutics (AKBA) PT Raised to $25 at Aegis Capital; Deal Lifts Financial Overhang

April 26, 2017 8:01 AM EDT
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Price: $3.67 +3.97%

Rating Summary:
    13 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 13
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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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