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On Wednesday, Astria Therapeutics (NASDAQ:ATXS), currently trading at $4.62, received confirmation from Citizens JMP analysts of a sustained Market Outperform rating and a $26.00 price target. The stock, which InvestingPro analysis suggests is currently undervalued, has garnered strong analyst support with price targets ranging from $16 to $35. The analysts highlighted the company’s effective progression of its Phase 3 ALPHA-ORBIT trial for navenibart, which has commenced with results anticipated in early 2027.
The analysts underscored two imminent pipeline updates that are pivotal to the company’s near-term prospects. With a current ratio of 17.49, InvestingPro data shows the company maintains strong liquidity to fund its development programs. Firstly, extended follow-up data from the Phase 1b/2 trial of navenibart is expected around mid-2025. This data, covering a period of 12-18 months, is crucial for assessing the long-term efficacy of the treatment’s dosing intervals, which aim to prevent HAE attacks every three to six months. Secondly, initial clinical data for STAR-0310, an OX40 antagonist, is projected to be released in the third quarter of 2025.
The extended data for navenibart is particularly significant as it may bolster confidence in the drug’s competitive edge, especially in comparison to other HAE prophylactics which have demonstrated attack reductions between approximately 81%-87% but require more frequent dosing. Analysts are also anticipating the healthy volunteer data for STAR-0310 to potentially reveal a pharmacokinetic (PK) profile that supports dosing every six months and may offer a distinct safety profile compared to existing treatments.
Astria Therapeutics is closely monitoring the development of these treatments, with the aim of providing improved care for patients with Hereditary Angioedema (HAE), a rare genetic condition that causes recurrent swelling in various parts of the body. The successful execution of these trials could position Astria Therapeutics as a leader in the HAE treatment market. Investors should note that the company holds more cash than debt on its balance sheet, with the next earnings report scheduled for May 8, 2025. For comprehensive financial analysis and additional insights, subscribers can access over 10 exclusive ProTips on InvestingPro.
In other recent news, Astria Therapeutics is advancing its clinical trials with significant developments. The company is preparing to showcase data from its Phase 1b/2 ALPHA-STAR trial of navenibart, a candidate for treating Hereditary Angioedema (HAE), at an upcoming conference. This presentation is expected to highlight the drug’s ability to reduce HAE attacks sustainably. Astria is also set to launch its Phase 3 ALPHA-ORBIT trial for navenibart, marking a critical step toward potential regulatory approval. Additionally, Astria is progressing with its second drug candidate, STAR-0310, entering clinical trials for atopic dermatitis. Analysts at JMP Securities have reiterated a Market Outperform rating for Astria, with a price target of $26.00, reflecting confidence in the company’s strategic approach and pipeline. Meanwhile, H.C. Wainwright maintains a Buy rating with a $16.00 target, emphasizing the potential of STAR-0310. Both firms see promising opportunities for Astria in the therapeutic areas of HAE and atopic dermatitis. These developments position Astria Therapeutics as a company to watch in the biopharmaceutical sector.
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