Analyst Jonathan Wolleben from JMP Securities reiterated a Buy rating on Astria Therapeutics (ATXS – Research Report) and keeping the price target at $26.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors including the promising data from Astria Therapeutics’ ALPHA-STAR trial. The trial results showed that navenibart significantly reduced moderate-to-severe HAE attacks and the need for rescue medication, with a more convenient dosing schedule compared to existing treatments. This positions navenibart as a potentially preferred prophylactic option for HAE, which is not yet fully appreciated in the current valuation of the company.
Additionally, the preclinical data for STAR-0310, an atopic dermatitis candidate, is compelling due to its potential for better tolerability and dosing convenience compared to existing treatments. The anticipation of first-in-human data in 2025 adds an upside to Astria’s valuation. These factors, combined with ongoing trials and future data releases, underpin Wolleben’s confidence in Astria Therapeutics’ growth potential and justify the Buy rating.
In another report released on February 28, TD Cowen also maintained a Buy rating on the stock with a $35.00 price target.
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