Analyst Edward Nash from Canaccord Genuity maintained a Buy rating on Akero Therapeutics (AKRO – Research Report) and increased the price target to $73.00 from $56.00.
Edward Nash has given his Buy rating due to a combination of factors that highlight Akero Therapeutics’ strong financial position and promising clinical progress. The company concluded FY2024 with a robust cash reserve of $797.8 million, bolstered by a successful follow-on offering in January 2025 that raised an additional $402.5 million. This financial strength supports the ongoing development of their clinical programs.
Furthermore, Akero’s recent positive results from the Phase IIb SYMMETRY study in F4 cirrhotic MASH have reinforced confidence in their pipeline. The continued advancement of the Phase III SYNCHRONY trials, with key data expected in the coming years, suggests potential for significant clinical and commercial milestones. These elements collectively underpin Nash’s optimistic outlook and the Buy rating for Akero’s stock.
According to TipRanks, Nash is a 5-star analyst with an average return of 14.5% and a 43.22% success rate. Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Verona Pharma, and Akero Therapeutics.
In another report released on February 28, Bank of America Securities also maintained a Buy rating on the stock with a $63.00 price target.