Akero Therapeutics price target raised to $60 from $50 at Evercore ISI

Evercore ISI raised the firm’s price target on Akero Therapeutics to $60 from $50 and keeps an Outperform rating on the shares. The upcoming SYMMETRY data expected in October is “set up to be a significant inflection point for shares,” says the analyst, who notes that “there’s never been a drug to show a benefit in cirrhosis” and thinks Akero “has a real shot at it.” The firm – which sees a 40% chance for this study to be statistically significant, 40% odds for strong trend, and 20% odds for “an outright failure” – anticipates a 50% positive to 40% negative stock move following the release of the data.