Akero Therapeutics rises after Citi initiates with 'buy' rating

Akero Therapeutics

18/11/2024 16:01

** Drug developer Akero Therapeutics'  AKRO.O  shares rise
~2.5% to $28.78
    ** Citi initiates coverage of AKRO with "buy" rating
    ** Brokerage says AKRO is developing efruxifermin, a novel
FGF21 agonist, for treating metabolic dysfunction-associated
steatohepatitis (MASH)
    ** MASH causes an excessive accumulation of fat in the liver
    ** "Efruxifermin is well-positioned to differentiate in this
difficult-to-treat population given its potential
best-in-disease efficacy," says Citi
    ** Brokerage sets PT at $65, a ~131.4% upside on stock's
last close
    ** Ten of 11 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $46 - LSEG data
    ** Including session's moves, stock up ~22.23% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))