Morgan Stanley On Akebia's New Phase 3 Clinical Trials, Q2 Earnings

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Morgan Stanley provided its outlook on Akebia Therapeutics Inc AKBA in a report published Tuesday. The company posted its Q2 results and announced the initiation of the Phase 3 clinical trials for vadadustat in dialysis.

The Phase 3, which targets enrollment of 2,600 patients globally, will include a correction study of around 400 patients not currently being treated with Epo and a conversion study of around 2,200 currently receiving Epo who will be converted to either vadadustat or active control, with the goal of maintaining baseline hemoglobin levels.

The analyst currently have an Overweight rating with $17 price target, which is based on assumed 10 percent WACC and terminal value of 2.5x the 2030 cash flow.

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Posted In: Analyst ColorAnalyst RatingsMorgan Stanley
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