Positive Buy Rating for Akero Therapeutics Backed by Clinical and Operational Progress

Analyst Ed Arce of H.C. Wainwright maintained a Buy rating on Akero Therapeutics (AKRO – Research Report), retaining the price target of $50.00.

Ed Arce’s rating is based on a combination of factors, including Akero Therapeutics’ progress in its Phase 3 trials and the potential of its drug candidate, efruxifermin (EFX), in treating patients with advanced liver disease. Arce emphasizes the company’s ability to initiate the SYNCHRONY Outcomes study on schedule, which reflects positively on Akero’s operational capabilities and the productive discussions with the FDA. The anticipation of Week 96 data from the Phase 2b SYMMETRY study also contributes to the confidence in long-term benefits for patients with F4 MASH, despite the initial setbacks in earlier trial results.
Furthermore, Arce notes the launch of two additional SYNCHRONY Phase 3 trials that are currently underway, investigating EFX in both pre-cirrhotic and real-world settings. These trials aim to examine the drug’s efficacy and safety, bolstering Akero’s regulatory submission for accelerated approval. The proprietary LyoJect 3S syringe developed by Akero, designed for self-administration and optimized drug delivery, is also highlighted as a positive factor in the treatment’s potential ease of use. All these elements combined support Arce’s affirmative Buy rating for Akero Therapeutics, indicating a positive outlook on the company’s prospects.

Arce covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Mirum Pharmaceuticals, and 89bio. According to TipRanks, Arce has an average return of 7.4% and a 38.00% success rate on recommended stocks.

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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.