In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Akero Therapeutics (AKRO – Research Report), with a price target of $40.00.
Ed Arce has given his Buy rating due to a combination of factors related to Akero Therapeutics’ progress and potential in treating metabolic liver diseases. Akero’s initiation of the Phase 3 SYNCHRONY program is a critical development that adheres to the company’s projected timelines, with the commencement of patient dosing in the pivotal studies. This progression marks a significant step forward for their lead candidate, efruxifermin (EFX), which is now in late-stage clinical trials for the treatment of pre-cirrhotic metabolic-associated steatohepatitis (MASH), formerly known as NASH. The program’s design aims to demonstrate the efficacy of EFX in improving liver histology and resolving NASH, which could support an accelerated approval pathway.
Additionally, the upcoming End-of-Phase 2 meeting with the FDA, scheduled for the first quarter of 2024, is expected to be a major catalyst for Akero. Gaining FDA alignment on the proposed SYNCHRONY Outcomes study, particularly in the context of previous uncertainties with cirrhotic MASH patients, could significantly enhance investor confidence. The anticipation of positive long-term results from the Phase 2b HARMONY study further bolsters the case for EFX’s potential efficacy and safety profile. Overall, the strategic milestones set in the near term and the potential for positive clinical data support Arce’s optimistic outlook on Akero Therapeutics’ stock.
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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.
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