Astria Therapeutics price target raised to $32 from $28 at Oppenheimer

Oppenheimer raised the firm’s price target on Astria Therapeutics (ATXS) to $32 from $28 and keeps an Outperform rating on the shares. The company’s full Phase 2 results for the ALPHA-STAR trial support an over 90% reduction in attacks over six months for all cohorts, with up to 67% of patients remaining attack-free through six months, the analyst tells investors in a research note. The firm says navenibart’s clinical data to date supports the “potential for best-in-class injectable efficacy” with a three- or six-month dosing schedule. It increased its probability of sucess from to 70% from 60% given increased confidence for Navenibart as it moves into Phase 3.