Akero Therapeutics (AKRO) PT Raised to $61 at Cantor Fitzgerald, 'we would be buyers'

Cantor Fitzgerald analyst Prakhar Agrawal raised the price target on Akero Therapeutics (NASDAQ: AKRO) to $61.00 (from $41.00) while maintaining a Overweight rating.

The analyst comments "Ultimately, EFX has shown very strong efficacy at 2-year time point (75% of F2-F3 patients on EFX seeing fibrosis improvement) that will be tough to beat for competitors. The key bull thesis for AKRO has been the F4 MASH population, and based on the dramatic fibrosis improvement seen today, we have higher conviction on F4 success, as today's data provides strong evidence that longer treatment with EFX should produce better fibrosis benefit. Physicians/patients would also be much more accommodative of any safety/tolerability issues in F4 due to higher background disease severity. We are increasing our PoS in F4 to 40% from 10% previously, which increases our DCF valuation sensitivity to $61/sh (previously $41/sh). We think AKRO should be up more on today’s readout than current reaction, and we would be buyers."

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