Akero Therapeutics MASH data ‘best-case-scenario,’ says Citi

Citi analyst Jonathan Woo says Akero Therapeutics (AKRO)’ 96-week data update from its SYMMETRY trial of efruxifermin for patients with compensated cirrhosis due to metabolic dysfunction-associated steatohepatitis is a “best-case-scenario.” Efruxifermin achieved statistically significant liver fibrosis improvement without any worsening of nonalcoholic steatohepatitis, representing the first successful trial to meaningfully support the potential multibillion-dollar opportunity in the underserved F4C population in MASH, the analyst tells investors in a research note. Citi highlights that major pharma companies are already evaluating their respective GLP-1s in MASH, and given expectations for different market positioning, efruxifermin could be very well positioned to complement an existing MASH franchise. It expects “significant upside” for the stock at the open and keeps a Buy rating on Akero with a $65 price target The stock in premarket trading is up 105%, or $27.57, to $53.75.