Akero Therapeutics price target raised to $80 from $65 at Citi

Citi raised the firm’s price target on Akero Therapeutics (AKRO) to $80 from $65 and keeps a Buy rating on the shares. The company presented efruxifermin’s 96-week SYMMETRY data in compensated cirrhosis patients due to metabolic dysfunction-associated steatohepatitis, achieving statistically significant fibrosis improvement – the first for any trial in the “underserved, difficult-to-treat population,” the analyst tells investors in a research note. The firm says the data is a “best-case-scenario” for efruxifermin, bolstering its position as a “potential cornerstone treatment” for cirrhotic MASH patients for whom there are currently no treatment options. Looking ahead, it continues to see share upside for Akero from current levels due to heightened strategic interest, as well as tailwinds from Rezdiffra’s ongoing launch and GLP-1 development in MASH that should continue to grow the overall market and increase investor interest in the space.