Roth Capital Partners initiated coverage of Akero Therapeutics (NASDAQ:AKRO) with a “buy” rating and price target of $34. The stock closed at $19.88 on July 12.
“Although Akero’s lead asset, AKR-001 (a FGF21 analog), is the new kid on the NASH block, we believe it has a promising future,” writes analyst Yasmeen Rahimi.
Comparing AKR-001 with the competitive NASH landscape, “we compiled all accessible clinical datasets for the NASH drugs in development spanning all mechanisms of action, which not only de-risks the upcoming Phase 2a results but shows how AKR-001 stands out in the crowded NASH landscape,” she added.
AKR-001’s dataset in Type 2 diabetics (T2D) points to promising pharmacokinetics, safety, and efficacy, Ms. Rahimi said. At present, there are two Phase 1 T2D datasets, with 83 patients, using single ascending and multiple doses.
