Company

Bank

Analyst

Coverage

Opinion

Wk chg

4/17 cls

Akebia Therapeutics Inc. (NASDAQ:AKBA)

UBS

Matthew Roden

New

Buy

55%

$26.09

Roden initiated coverage with a $28 target on the belief that Akebia's AKB-6548 has blockbuster potential to treat anemia in chronic kidney disease (CKD) patients. Roden said preclinical and clinical data support the safety of AKB-6548 vs. marketed erythropoiesis stimulating agents (ESA), which have black box warnings for increased death and cardiovascular events. The oral hypoxia-inducible factor prolyl hydroxylase (HIF-PH; EGLN) inhibitor is in Phase IIb testing, with data expected in 4Q14. Akebia raised $100M in an IPO in March.