JPMorgan lowered the firm’s price target on Akero Therapeutics to $41 from $62 and keeps an Overweight rating on the shares. Following the topline results for the Phase 2b SYMMETRY trial, the analyst reduced penetration and success assumptions in the cirrhotic nonalcoholic steatohepatitis population. However, the firm remains encouraged by efruxifermin’s activity profile in cirrhotic NASH and optimistic that longer term follow-up could result in a larger effect size on fibrosis.
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