H.C. Wainwright analyst Ed Arce maintained a Buy rating on Akero Therapeutics (AKRO – Research Report) today and set a price target of $40.00.
Ed Arce has given his Buy rating to Akero Therapeutics due to a combination of factors that he believes will contribute to the company’s success. The primary factor he cites is the progress of the SYNCHRONY studies, which are on track to enroll their first patients by the end of 2023. This program includes three trials to assess EFX, a drug intended for different NASH sub-populations. The SYNCHRONY Histology study, in particular, is noteworthy as its positive outcomes are anticipated to support EFX’s global approval.
Moreover, the SYNCHRONY Real-World study is designed to evaluate EFX’s safety and tolerability in patients with non-invasively diagnosed NASH or NAFLD. Arce also regards the Phase 2b HARMONY study’s Week 96 data readout as a significant milestone for EFX and Akero. Additionally, Arce highlights the submission of a request in October for a Type B, End-of-Phase-2 meeting with the FDA to review the design of the planned SYNCHRONY Outcomes study. Despite EFX not achieving statistical significance in the SYMMETRY study’s primary endpoint, significant improvements were noted in many other measurements, leading to Arce’s overall positive outlook for the company.
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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 Reports Third Quarter 2023 Financial Results and Provides Business Update
- AKRO Earnings this Week: How Will it Perform?
- Cantor Fitzgerald biotech analysts hold an analyst/industry conference call
- Akero to present oral, poster presentations on EFX at AASLD meeting
- Akero Therapeutics to Present Late-Breaking Oral and Poster Presentations on EFX at AASLD’s The Liver Meeting® 2023
