Akero Therapeutics initiated with a Buy at Citi

Citi initiated coverage of Akero Therapeutics (AKRO) with a Buy rating and $65 price target Akero is a clinical stage biotech developing efruxifermin, a novel FGF21 agonist, as a potential best-in-disease therapy for the treatment of metabolic dysfunction-associated steatohepatitis, the analyst tells investors in a research note. The firm says efruxifermin has demonstrated compelling efficacy for MASH with moderate to advanced fibrosis that is likely to support meaningful uptake, particularly for more severe patients, despite launching into an established market.