Open an account

Akebia Therapeutics

AKBA · NASDAQ

$0.6181−$0.062 (−9.12%)TodayMarket closed ·
Prev close $0.6801

AKBA analyst rating

BuyConsensus of 5 analysts over the last 12 months. 80% rate it a buy.
  • Strong buy0
  • Buy4
  • Hold1
  • Underperform0
  • Sell0

12-month price target · 8 analysts

Average $4.00 (+546.3% upside)

Low
$1.01
Now
$0.6181
High
$6.30

Upgrades and downgrades

The latest rating actions, newest first

AKBA analyst upgrades, downgrades and rating actions
FirmDateActionRating
BTIGSep 15, 2026MaintainsBuy
WestPark CapitalSep 8, 2026InitiatesBuy
Leerink PartnersAug 7, 2026DowngradeOutperform → Market Perform
HC Wainwright & Co.Jul 1, 2026MaintainsBuy
BTIGApr 7, 2026MaintainsBuy
BTIGFeb 25, 2026MaintainsBuy
Piper SandlerFeb 6, 2026MaintainsOverweight
HC Wainwright & Co.Feb 6, 2026MaintainsBuy
BTIGDec 2, 2025MaintainsBuy
HC Wainwright & Co.Dec 2, 2025MaintainsBuy

The case for and against

Updated Oct 14, 2026

Bull case

Akebia Therapeutics is well positioned on the strength of Vafseo’s January 2025 launch in DD-CKD, where nearly 100% contract coverage, premium TDAPA economics, and access to a >540k-patient US market support early adoption, especially among ~80k home dialysis patients and ~150k patients on high ESAs. The investment case is further strengthened by VOICE, which showed non-inferiority and superiority on the primary composite endpoint and a statistically significant reduction in hospitalizations versus ESAs, validating the only oral, non-ESA HIF stabilizer option in the US and improving the odds of broader dialysis-provider uptake. Beyond Vafseo, the pipeline adds long-duration upside through AKB-097 in >160k IgAN patients, ~100k LN patients, and ~4k C3G patients, while praliciguat’s Phase 2 FSGS program offers a differentiated, combination-friendly mechanism with meaningful unmet need.

Bear case

Akebia Therapeutics is facing a fundamentally fragile outlook because its value remains highly dependent on commercialization success for a limited product set, especially Vafseo and Auryxia, while the business is still exposed to development-stage execution risk. Although the VOICE trial showed improved composite outcomes for Vafseo with a win odds of 1.16 and a 10% reduction in annual hospitalizations, mortality was unchanged and the company’s own risk factors still highlight the possibility that products may fail to reach peak revenue, reflecting uncertain market penetration and pricing. The thesis is further pressured by the need to secure capital resources to fund operations and to continue development, making the current financial profile and long-duration growth assumptions vulnerable if commercial momentum or financing access weakens.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.