LifeSci Capital analyst Rami Katkhuda maintained a Buy rating on Akero Therapeutics (AKRO – Research Report) today and set a price target of $60.00.
Rami Katkhuda’s rating is based on Akero Therapeutics’ impressive 96-week results from their Phase IIb HARMONY study for the treatment of liver fibrosis in F2/F3 NASH patients. The long-term data showed that the use of efruxifermin (EFX) significantly improved liver fibrosis, with the benefit more than doubling from Week 24 to Week 96 for the 50mg dose. This improvement in liver fibrosis without worsening of NASH is considered the best outcome seen so far in the competitive landscape of treatments under development. Furthermore, the rapid anti-fibrotic activity of EFX stands out as a differentiator from other mechanisms of action being explored, many of which focus on liver de-fatting with less significant, if any, fibrosis improvements over much longer time frames.
In addition to efficacy, the safety and tolerability profile of EFX remained consistent with earlier reports, with minimal discontinuations due to adverse events between the 24-week and 96-week updates. Even with some observed bone loss, the overall risk/benefit profile of EFX is still considered favorable, especially given that most patients in the study are post-menopausal women who are prone to bone density loss. Today’s results not only reinforce the potential of EFX in this patient population but also suggest a positive outlook for upcoming results in F4 patients, who possess a higher baseline fibrosis burden. Katkhuda perceives these factors, including the unprecedented fibrosis improvement rates, as strong indicators of the drug’s best-in-indication potential, leading to his Buy rating for Akero Therapeutics’ stock.
According to TipRanks, Katkhuda is a 5-star analyst with an average return of 40.9% and a 48.72% success rate. Katkhuda covers the Healthcare sector, focusing on stocks such as Viridian Therapeutics, Akero Therapeutics, and Calliditas Therapeutics.
In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $50.00 price target.
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Akero Therapeutics (AKRO) Company Description:
Akero Therapeutics, Inc. operates as a biotechnology company. The firm specializes in transformational treatments for non-alcoholic steatohepatitis (NASH) and other serious metabolic diseases. The company was founded by Jonathan Young and Timothy Rolph on January 24, 2017 and is headquartered in South San Francisco, CA.
Read More on AKRO:
- Akero Therapeutics’ EFX Shows Promise in Phase 2b MASH Study
- Akero Therapeutics Reports Statistically Significant Histological Improvements at Week 96 in Phase 2b HARMONY Study
- Akero Therapeutics price target raised to $43 from $40 at H.C. Wainwright
- Akero Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update
- Akero Therapeutics reports Q4 EPS (99c), consensus (86c)
