Akebia Therapeutics (AKBA) stock is soaring 5.48% in pre-market trading on Friday, buoyed by positive analyst ratings from two prominent firms. The biotechnology company, which focuses on developing and commercializing therapeutics for patients with kidney disease, is seeing increased investor interest following these bullish assessments.
Piper Sandler analyst Allison Bratzel has maintained a Buy rating on Akebia Therapeutics, setting a price target of $6.00. This target represents significant upside potential from the stock's current trading levels. Similarly, H.C. Wainwright analyst Matthew Caufield has reiterated a Buy rating on the company, with an even more optimistic price target of $8.00.
These reaffirmed Buy ratings from respected financial institutions suggest strong confidence in Akebia Therapeutics' business model and growth prospects. Investors appear to be responding positively to these analyst endorsements, driving the stock's pre-market surge. As the market opens, all eyes will be on Akebia Therapeutics to see if this upward momentum continues throughout the trading session.
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