JMP Securities starts Astria Therapeutics stock with $26 target

Astria Therapeutics’ focus on leveraging its half-life extension technology to create long-acting mAbs targeting derisked targets in established markets has positioned the company favorably in the eyes of JMP Securities. With its lead candidate entering Phase 3 testing and a second candidate commencing clinical trials, Astria is making strides in addressing the needs of patients with HAE and atopic dermatitis. While InvestingPro data indicates the company is currently burning through cash with negative earnings expected this year, its robust balance sheet shows more cash than debt, providing runway for its development programs. While InvestingPro data indicates the company is currently burning through cash with negative earnings expected this year, its robust balance sheet shows more cash than debt, providing runway for its development programs.

Astria Therapeutics’ focus on leveraging its half-life extension technology to create long-acting mAbs targeting derisked targets in established markets has positioned the company favorably in the eyes of JMP Securities. With its lead candidate entering Phase 3 testing and a second candidate commencing clinical trials, Astria is making strides in addressing the needs of patients with HAE and atopic dermatitis. While InvestingPro data indicates the company is currently burning through cash with negative earnings expected this year, its robust balance sheet shows more cash than debt, providing runway for its development programs.

In addition to navenibart, Astria is also moving forward with its second candidate, STAR-0310, which is entering clinical testing for atopic dermatitis. Atopic dermatitis is a common skin condition known for causing itchy and inflamed skin. The initiation of these trials marks a pivotal moment for Astria Therapeutics as it expands its portfolio into large, proven markets with its derisked targets.

Astria Therapeutics’ focus on leveraging its half-life extension technology to create long-acting mAbs targeting derisked targets in established markets has positioned the company favorably in the eyes of JMP Securities. With its lead candidate entering Phase 3 testing and a second candidate commencing clinical trials, Astria is making strides in addressing the needs of patients with HAE and atopic dermatitis. While InvestingPro data indicates the company is currently burning through cash with negative earnings expected this year, its robust balance sheet shows more cash than debt, providing runway for its development programs.

Astria Therapeutics’ focus on leveraging its half-life extension technology to create long-acting mAbs targeting derisked targets in established markets has positioned the company favorably in the eyes of JMP Securities. With its lead candidate entering Phase 3 testing and a second candidate commencing clinical trials, Astria is making strides in addressing the needs of patients with HAE and atopic dermatitis.

In other recent news, Astria Therapeutics has been the subject of several notable developments. H.C. Wainwright maintained a Buy rating with a price target of $16.00, following Astria’s initiation of a Phase 1a study for STAR-0310, a potential treatment for atopic dermatitis. Concurrently, the company has announced its ALPHA-ORBIT Phase 3 clinical trial for navenibart, a treatment for hereditary angioedema (HAE), after positive results from its Phase 1b/2 ALPHA-STAR trial.

Astria Therapeutics also expanded its 2022 Inducement Stock Incentive Plan, aiming to attract and retain top talent by increasing the number of shares reserved for issuance. Additionally, the FDA has cleared Astria’s new drug for atopic dermatitis (AD) for trial, with initiation expected in 2026.

Analyst firms TD Cowen and H.C. Wainwright have maintained their Buy ratings for Astria, while Oppenheimer has raised its stock target for the company, despite a higher than expected second-quarter loss. These recent developments highlight Astria Therapeutics’ continued progress in the biotech sector.

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