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Investing.com - TD Cowen has initiated coverage on Akero Therapeutics (NASDAQ:AKRO) with a Buy rating and a price target of $76.00. According to InvestingPro data, this aligns with the strong analyst consensus, with targets ranging from $60 to $109 per share. The company’s stock has demonstrated impressive momentum, delivering a 92% return over the past year.
The research firm cited the company’s FGF21 analog efruxifermin (EFX) as having a "differentiated clinical profile" supported by strong efficacy data that could drive commercial success in F3 and F4 MASH (metabolic dysfunction-associated steatohepatitis).
EFX is currently in Phase 3 trials with what TD Cowen describes as "high probabilities of success," with topline data for the Phase 3 SYNCHRONY F2/F3 MASH trial expected in the first half of 2027.
TD Cowen projects peak U.S. sales of $2.85 billion for F3 MASH treatment and $4.85 billion for F4 MASH treatment.
The $76 price target represents significant upside potential from Akero’s current trading levels.
In other recent news, Akero Therapeutics has reported promising results from its Phase 2b SYMMETRY trial, indicating that its drug efruxifermin (EFX) may improve liver fibrosis in patients with compensated cirrhosis. The trial, which included 182 patients, evaluated the efficacy and safety of EFX over 96 weeks, with positive outcomes noted in fibrosis improvement and MASH resolution. Following these findings, Jefferies maintained a Buy rating on Akero, setting a price target of $75, highlighting the potential of Akero’s FGF21 therapy presented at the European Association for the Study of the Liver (EASL).
Citi also maintained a Buy rating on Akero but adjusted its price target from $80 to $78 after Akero disclosed its first-quarter 2025 earnings and detailed clinical data from the SYMMETRY trial. The trial data showed dose-dependent improvements in the Enhanced Liver Fibrosis (ELF) score and liver stiffness measurement. Meanwhile, Morgan Stanley (NYSE:MS) lowered its price target for Akero from $90 to $84, maintaining an Overweight rating. This adjustment reflects a conservative shift in the projected timeline for the U.S. launch of EFX treatments for F4 patients, now anticipated three years later than previously expected.
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