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On Tuesday, JMP Securities maintained its Market Outperform rating for Astria Therapeutics (NASDAQ:ATXS) with a steady price target of $26.00, representing significant upside potential from the current price of $7.06. According to InvestingPro data, analyst targets range from $16 to $35, with a strong buy consensus rating of 1.25. The affirmation came ahead of the biotechnology company's presentation of data from its ongoing clinical trials. Astria is set to showcase findings from its Phase 1b/2 ALPHA-STAR trial of navenibart, a therapeutic candidate for Hereditary Angioedema (HAE), at an upcoming conference.
The data presentation is scheduled for the late-breaking poster session on Saturday, March 1, and will continue with additional insights at a session focused on Atopic Dermatitis, Contact Dermatitis, Urticaria, Angioedema on Sunday, March 2. JMP Securities anticipates that the presented data will underscore navenibart's capacity to quickly and, crucially, sustainably reduce HAE attacks.
Astria Therapeutics is also preparing to launch its Phase 3 ALPHA-ORBIT trial of navenibart within this quarter. Details of the trial design are expected to be disclosed during the same conference in a dedicated poster presentation. The Phase 3 trial marks a significant step in the development of navenibart, as it moves closer to potential regulatory approval and commercial availability.
The ongoing clinical developments and upcoming presentations are critical for Astria Therapeutics as they provide an opportunity to demonstrate the efficacy and safety of navenibart to the medical community and potential investors. With a market capitalization of $398 million and an overall Financial Health score rated as "FAIR" by InvestingPro, the company's focus on addressing the unmet medical needs of HAE patients positions it within a niche yet vital segment of the biopharmaceutical market.
With a Market Outperform rating and a $26.00 price target, JMP Securities signals confidence in Astria Therapeutics' prospects, underpinned by the anticipated positive outcomes from its clinical trials and strategic progress in its product pipeline. InvestingPro analysis suggests the stock is currently undervalued, with additional metrics and exclusive ProTips available to subscribers. As Astria Therapeutics continues its clinical and operational endeavors, the investment community will be closely monitoring the outcomes of the upcoming data presentations for further insights into the company's potential growth trajectory.
In other recent news, Astria Therapeutics has been making significant strides in its drug development pipeline. JMP Securities initiated coverage on the biopharmaceutical company, assigning a Market Outperform rating and setting a price target of $26.00. The firm highlighted Astria's advancement of its lead drug candidate, navenibart, into Phase 3 trials for preventing attacks related to hereditary angioedema (HAE). Additionally, Astria's second drug candidate, STAR-0310, is commencing clinical trials for the treatment of atopic dermatitis.
In parallel, H.C. Wainwright maintained a Buy rating on Astria Therapeutics stock, setting a price target of $16.00. This followed Astria's initiation of a Phase 1a study for STAR-0310, with early proof-of-concept results expected in the third quarter of 2025. The company also announced the design of its ALPHA-ORBIT Phase 3 clinical trial for navenibart, aiming to support global registration for the drug.
In other developments, Astria Therapeutics expanded its 2022 Inducement Stock Incentive Plan, increasing the number of shares reserved for issuance from 1.7 million to 2.8 million shares of its common stock. This strategic move aims to attract and retain top talent, a common practice in the pharmaceutical industry. These are recent developments in Astria Therapeutics' journey towards addressing significant needs in the therapeutic areas of HAE and atopic dermatitis.
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