Needham & Company raised its price target on Akebia Therapeutics (NASDAQ: AKBA) to $21.00 (from $18.00) while maintaining a Buy rating. Akebia is licensing vadadustat distribution rights to Vifor Pharma for exclusive sale to Fresnius Medical Care. The deal will rapidly give vadadustat access to 40% of the dialysis market assuming its approval and inclusion in the reimbursement bundle.

Analyst Chad Messer sees the deal as a positive for the future commercial opportunity and for the immediate funding needs at Akebia as Vifor is making a $50M equity investment in Akebia at a premium to its trailing stock price.

Analyst Comments Analyst EPS Change Analyst PT Change

Pre-Open Movers 05/16: (AKBA) (ETSY) (SINA) Higher; (PTX) (DKS) (SSYS) Lower (more...)May 16, 2017 9:24 AM S&P 500, Dow end session flat, tech boosts NasdaqMay 16, 2017 7:26 AM Akebia Therapeutics (AKBA): Raising PT On Key Contract - HC WainwrightMay 16, 2017 7:26 AM Akebia Therapeutics (AKBA) Secures $50M Investment at $14/Sh from Vifor Pharma for Exclusive Distribution of Vadadustat to Fresenius Medical Care North America for Dialysis FacilitiesMay 16, 2017 5:53 AM Vifor Pharma and Akebia Announce Exclusive License Agreement to Provide Vadadustat to Fresenius Medical Care in the U.S. Upon FDA ApprovalMay 16, 2017 1:00 AM After-Hours Stock Movers 05/15: (AKBA) (ETSY) (BDSI) Higher; (PTX) (TEAR) (PRKR) Lower (more...)May 15, 2017 6:28 PM Akebia Therapeutics (AKBA), Vifor Pharma Enter Exclusive License Agreement to Provide Vadadustat to Fresenius Medical Care; Deal Includes $50M Equity InvestmentMay 15, 2017 4:06 PM Akebia and Vifor Pharma Announce Exclusive License Agreement to Provide Vadadustat to Fresenius Medical Care in the U.S. Upon FDA ApprovalMay 15, 2017 4:05 PM