Your weekend brief: Top analysts are betting on stocks like Apple and Disney for long-term gains
. He reiterated a buy rating on the biopharma on July 15, citing a new study evaluating vadadustat for coronavirus-related acute respiratory distress syndrome.
The investigator-sponsored, placebo-controlled study is conducted under an investigational new drug application filed with the Food and Drug Administration for up to 300 adult patients with coronavirus related hypoxemia. Hypoxemia is a below-normal level of oxygen in the blood, that can signal breathing or circulation-related difficulties.
Arce believes Akebia's lead product candidate vadadustat could be efficacious in preventing lung injury in patients who experience acute respiratory distress syndrome, and protecting other organs, according to a report on July 15. However, his valuation on the company is primarily based on vadadustat's potential US approval for anemia due to chronic kidney disease.
This means that the upcoming top-line data readout in mid-2020 from the second Phase 3 pivotal program of vadadustat in non-dialysis-dependent kidney disease is the next major milestone for the stock, says the analyst. He calculates for an early 2022 launch for vadadustat with a $2.8 billion peak U.S. sales in 2030. He has a $17Arce is ranked 265 out of over 6,750 analysts, thanks to a 17.7% average return per rating.
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