In a report released today, Rami Katkhuda from LifeSci Capital maintained a Buy rating on Akero Therapeutics (AKRO – Research Report), with a price target of $60.00.
Rami Katkhuda has given his Buy rating due to a combination of factors that highlight Akero Therapeutics’ promising financial and clinical outlook. The company concluded Q3 2024 with a strong financial position, boasting $787.1 million in cash and equivalents, which is projected to support operations through the second half of 2027. This financial stability provides a solid foundation for the company’s ongoing and future clinical trials.
Moreover, Akero’s EFX has shown positive results in its Phase IIb SYMMETRY trial for F4 MASH patients, demonstrating significant efficacy in fibrosis improvement and MASH resolution by Week 36. Experts anticipate even better outcomes with extended treatment durations, as supported by previous trials in different patient populations. While the SYMMETRY trial faces challenges due to the advanced disease stage of its participants, the potential for improved responses over time and the strategic design of future studies such as SYNCHRONY, where EFX is self-administered, contribute to the positive outlook and justify the Buy rating.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AKRO in relation to earlier this year.
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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.
