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Investing.com - JMP Securities raised its price target on Astria Therapeutics (NASDAQ:ATXS) to $26.00 from $25.00 on Wednesday, while maintaining a Market Outperform rating on the stock. According to InvestingPro data, analysts remain highly bullish on ATXS, with price targets ranging from $16 to $47, suggesting significant upside potential from current levels.
The firm cited progress in Astria’s hereditary angioedema (HAE) program, specifically highlighting new ALPHA-SOLAR OLE data presented at the EAACI conference in June that supports navenibart’s competitive efficacy for both 3-month and 6-month dosing regimens.
JMP referenced its HAE physician survey, which indicated that navenibart’s Q6M (every 6 months) regimen is expected to be the most-preferred HAE prophylactic treatment option among doctors.
The research note also mentioned Astria’s recent license agreement with Kaken Pharmaceutical (TADAWUL:2070) to develop and commercialize navenibart in Japan, which JMP views positively as it provides non-dilutive funding and targets approximately 2,500 Japanese HAE patients.
JMP’s valuation model for Astria is based primarily on navenibart’s potential in HAE, projecting $1.5 billion in peak worldwide sales with a 60% probability of success, while considering the company’s OX40 antibody STAR-0310 as potential upside with Phase 1 data expected this quarter.
In other recent news, Astria Therapeutics has announced positive initial results from its ongoing ALPHA-SOLAR long-term trial of navenibart, a treatment for hereditary angioedema (HAE), showing a 92% mean reduction in monthly attack rates. The trial results were well-received, with H.C. Wainwright reiterating a buy rating and maintaining a $16.00 price target for Astria. Additionally, Citizens JMP maintained a Market Outperform rating with a $25.00 price target, citing the promising performance of navenibart in comparison to market leaders. Cantor Fitzgerald also reaffirmed its Overweight rating with a higher price target of $47.00, emphasizing confidence in navenibart’s potential to surpass existing HAE treatments.
Moreover, Astria has entered an exclusive licensing agreement with Kaken Pharmaceutical for the development and commercialization of navenibart in Japan, in a deal valued up to $32 million. This strategic partnership highlights the global interest in navenibart as it progresses through Phase 3 development. The anticipated topline data from Astria’s ongoing Phase 3 study is expected to be released in early 2027, marking a significant milestone in the drug’s development. The recent developments underscore Astria’s focus on advancing navenibart as a leading therapy for HAE.
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