H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Astria Therapeutics (ATXS – Research Report) today and set a price target of $16.00.
Joseph Pantginis has given his Buy rating due to a combination of factors that highlight Astria Therapeutics’ promising clinical advancements and strong financial position. The company has recently announced its financial results for 2024, which exceeded expectations in terms of earnings per share, and it holds a robust cash reserve of $328.1 million. This financial strength is expected to sustain its operations through mid-2027, providing a solid foundation for ongoing and future clinical developments.
Moreover, Astria Therapeutics is making significant strides in its clinical programs, particularly with the initiation of the ALPHA-ORBIT Phase 3 trial for navenibart, targeting hereditary angioedema (HAE). This trial is designed to assess the efficacy and safety of different dosing regimens, with the potential to offer flexible treatment options for patients. Additionally, the Phase 1a trial of STAR-0310, an OX40 inhibitor for atopic dermatitis, is progressing, with early proof-of-concept results anticipated in the third quarter of 2025. These developments underscore the potential for differentiated commercial opportunities, reinforcing Pantginis’s confidence in the company’s future prospects.
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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