Akero Therapeutics' Lead Candidate Potential: Analyst Unpacks Complicated Regulatory Path Forward
Portfolio Pulse from Vandana Singh
Akero Therapeutics Inc (NASDAQ:AKRO) reported a 36-week analysis of SYMMETRY, a 96-week Phase 2b study of efruxifermin (EFX) in patients with compensated cirrhosis due to nonalcoholic steatohepatitis (NASH). The drug was not statistically significant in improving liver scarring without worsening of NASH, causing shares to tumble. HC Wainwright has lowered the price target from $64 to $40, with a Buy rating.
October 11, 2023 | 7:35 pm
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NEGATIVE IMPACT
Akero Therapeutics' lead candidate, efruxifermin, failed to show significant improvement in NASH patients, causing a drop in share price. HC Wainwright has lowered the price target for AKRO from $64 to $40.
The failure of Akero Therapeutics' lead candidate, efruxifermin, to show significant improvement in NASH patients has negatively impacted the company's stock price. This is further compounded by HC Wainwright's decision to lower the price target for AKRO from $64 to $40.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100