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Wednesday, JMP Securities analysts lowered the price target on Astria Therapeutics stock (NASDAQ: ATXS) to $25 from the previous $26, while keeping a Market Outperform rating. According to InvestingPro data, the stock has experienced significant pressure, declining over 61% in the past six months, with shares currently trading at $3.90. Despite this decline, analysts maintain a strongly bullish consensus, with price targets ranging from $16 to $47. The adjustment follows Astria’s continued progress in its clinical trials, particularly the Phase 3 ALPHA-ORBIT trial for its drug candidate navenibart, which has recently commenced with results anticipated in early 2027.
Jonathan Wolleben of JMP Securities noted that Astria Therapeutics is on track with its development plans, highlighting two significant upcoming data releases. The first is the long-term follow-up data from the Phase 1b/2 trial of navenibart, expected in mid-2025, which will provide further insights into the drug’s safety and efficacy over extended dosing intervals. The second is the initial clinical data for STAR-0310, an OX40 antagonist, slated for release in the third quarter of 2025.
The analyst emphasized that the extended follow-up data for navenibart is crucial as it will support the drug’s long dosing intervals, which aim for administration every three to six months. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 17.39, though it’s currently burning through cash with negative free cash flow of $81.5 million in the last twelve months. This dosing schedule is compared to other hereditary angioedema (HAE) prophylactics that require more frequent dosing yet have shown to reduce attack rates by approximately 81%-87%. These figures serve as a benchmark for navenibart’s performance.
Furthermore, JMP Securities is closely watching the forthcoming healthy volunteer data for STAR-0310. The data could confirm the drug’s pharmacokinetic profile, which supports biannual dosing, and may also highlight a potentially unique safety profile within the atopic dermatitis treatment landscape.
Wolleben concluded by stating that JMP Securities’ current valuation of Astria Therapeutics is based solely on the prospects of navenibart, with STAR-0310 representing a potential additional benefit to the company’s value. Based on InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate the company’s investment potential.
In other recent news, Astria Therapeutics has reported significant progress in its Phase 1a trial of navenibart, a potential treatment for hereditary angioedema (HAE). The trial results, published in the Annals of Allergy, Asthma & Immunology, show that the drug could be administered every three to six months, offering a long-acting treatment option. This development is part of Astria’s ongoing ALPHA-ORBIT Phase 3 trial aimed at establishing navenibart as a transformative therapy for HAE patients worldwide. Meanwhile, JMP Securities has reiterated its Market Outperform rating for Astria Therapeutics with a $26 price target, citing upcoming data presentations as critical to the company’s prospects.
Cantor Fitzgerald has initiated coverage on Editas Medicine (NASDAQ:EDIT), assigning an Overweight rating and a price target of $47. Analysts at Cantor Fitzgerald have expressed optimism about Editas’s lead therapeutic candidate, navenibart, which is also being developed for HAE. They highlight the drug’s potential for less frequent dosing, which could be advantageous over existing therapies. Additionally, Astria Therapeutics is preparing to release extended follow-up data for navenibart and initial clinical data for STAR-0310, an OX40 antagonist, in the coming years. These updates are expected to provide further insights into the efficacy and safety of Astria’s treatment options.
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