Akero Therapeutics initiated with an Outperform at Wolfe Research

Wolfe Research analyst Andy Chen initiated coverage of Akero Therapeutics (AKRO) with an Outperform rating and $40 price target. The launch of Rezdiffra into the MASH – or metabolic dysfunction-associated steatohepatitis – market by Madrigal Pharmaceuticals (MDGL) offers a positive readthrough for the company, and the potential for ongoing momentum is possible with Phase 2b SYMMETRY 96-week study results expected in Q1 of 2025, the analyst tells investors in a research note. Given Rezdiffra’s early launch and the focus on educating physicians about MASH, Madrigal will “prime the market” for possible competitors like Akero, the firm added.