Morgan Stanley analyst Michael Ulz has maintained their bullish stance on AKRO stock, giving a Buy rating on February 28.
Michael Ulz’s rating is based on Akero Therapeutics’ promising clinical trial results and strong financial position. The company’s recent 96-week Phase 2b SYMMETRY study of efruxifermin (EFX) in F4 MASH patients showed statistically significant improvements in fibrosis, which is a critical measure of treatment efficacy. These results, which are unprecedented in this patient group, bolster confidence in the potential success of the ongoing Phase 3 SYNCHRONY Outcomes study.
Additionally, Akero Therapeutics has a solid financial foundation, ending the fourth quarter of 2024 with $798 million in cash, supplemented by $402 million from a recent offering. This financial strength is expected to support the company’s operations through 2028, allowing it to advance its Phase 3 studies. The combination of groundbreaking clinical data and a robust financial position underpins Michael Ulz’s Buy rating for Akero Therapeutics.
Ulz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Akero Therapeutics. According to TipRanks, Ulz has an average return of -3.6% and a 35.07% success rate on recommended stocks.
In another report released on February 28, LifeSci Capital also maintained a Buy rating on the stock with a $80.00 price target.