JMP Securities analyst Jonathan Wolleben reiterated a Buy rating on Astria Therapeutics (ATXS – Research Report) today and set a price target of $26.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors that highlight Astria Therapeutics’ promising pipeline and financial stability. The company is advancing its Phase 3 ALPHA-ORBIT trial for navenibart, which is expected to provide significant data by early 2027. The ongoing trials and upcoming data releases, such as the long-term follow-up from the Phase 1b/2 trial of navenibart and the first clinical data for STAR-0310, are crucial in establishing the efficacy and safety of these treatments.
Additionally, Astria Therapeutics has a strong cash position, ending 2024 with $328 million, which is projected to support operations into mid-2027. This financial runway, combined with the potential for navenibart’s longer dosing intervals and competitive efficacy in treating HAE, positions the company well in the market. The anticipated differentiation of STAR-0310 in terms of dosing and safety could further enhance the company’s value, making it an attractive investment opportunity.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $35.00 price target.
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