Akero Therapeutics price target raised to $50 from $36 at Evercore ISI

Evercore ISI analyst Liisa Bayko raised the firm’s price target on Akero Therapeutics to $50 from $36 and keeps an Outperform rating on the shares after 96-week data for efruxifermin in MASH “impressed.” The high dose achieving 75% fibrosis reversal “is impressive” and marks “the highest fibrosis response in MASH seen to date,” the analyst tells investors. Following the release of the data, the firm is raising its target based on longer anticipated persistence on therapy and raising its view of the odds of success to 70% from 60% in the F3 population.