Analyst Patrick Dolezal of LifeSci Capital maintained a Buy rating on Akero Therapeutics (AKRO – Research Report), with a price target of $60.00.
Patrick Dolezal’s Buy rating for Akero Therapeutics (AKRO) is based on a number of factors. Despite not reaching a significant trend on the primary endpoint of histological fibrosis improvement after 36 weeks in its SYMMETRY trial, the broader results were promising. Specifically, encouraging figures included 60-67% of patients on the drug experiencing histological NASH resolution, compared to just 26% for placebo, which indicates the drug’s effectiveness. In addition, significant improvements were noted in key Non-Invasive Tests (NITs) associated with fibrosis and metabolic health.
In his report, Dolezal also highlights that Akero’s drug, efruxifermin (EFX), is the first to achieve any histological endpoint in a Phase 2b trial in cirrhotic NASH, which was previously considered an irreversible disease state. This suggests that the drug could have potential in treating advanced cases. Furthermore, a post-hoc analysis showed that more than half of patients who were advanced F4’s maintained their response to the drug, indicating its potential in managing severe cases. These factors led to Dolezal’s Buy rating, reflecting the drug’s potential in treating a disease where no other drugs have worked.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $40.00 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 expects cash to fund operating plan into 2026
- Akero Therapeutics reports Q3 EPS (71c), consensus (68c)
- 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
