Rami Katkhuda, an analyst from LifeSci Capital, maintained the Buy rating on Akero Therapeutics (AKRO – Research Report). The associated price target remains the same with $80.00.
Rami Katkhuda has given his Buy rating due to a combination of factors related to Akero Therapeutics’ financial health and promising clinical trial results. The company has reported a strong cash position of $797.8 million, bolstered by a recent follow-on offering that raised $402.5 million, extending its cash runway into 2028. This financial stability supports the company’s ongoing and future research endeavors.
Additionally, the positive outcomes from the Phase IIb SYMMETRY and HARMONY studies, which showed significant improvements in fibrosis for patients with MASH, are pivotal. These results validate the potential of efruxifermin (EFX) as a transformative treatment in the field, particularly given the lack of alternative therapies demonstrating similar efficacy in reversing cirrhosis. The promising data from these studies also enhance the credibility of the ongoing Phase III SYNCHRONY program, which aims to further establish EFX as a cornerstone therapy in MASH treatment. The strategic implementation of safety measures and the anticipated lower discontinuation rates in pivotal trials further strengthen the outlook for Akero Therapeutics.
In another report released on February 24, Phillip Securities also maintained a Buy rating on the stock with a $80.00 price target.
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