Morgan Stanley analyst Michael Ulz notes that on Monday morning, Madrigal Pharmaceuticals (MDGL) announced top-line results from the Phase 3 MAESTRO-NASH study of resmetirom in NASH, a potential competitor to Akero’s (AKRO) efruxifermin, which recently demonstrated promising efficacy in the Phase 2b HARMONY study in F2/F3 NASH. While cross study comparison can be challenging, the analyst believes data indicate a favorable profile for efruxifermin, though a less favorable dosing profile. Ulz acknowledges that data for Madrigal’s resmetirom were better-than-expected and suggest greater competition, along with potential first to market advantage, but notes Akero’s efruxifermin has maintained a differentiated efficacy profile based on robust Phase 2 results. The analyst has an Equal Weight rating on Akero’s shares with a price target of $40.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on MDGL:
- Trial success is rocketing this NASH stock higher and sinking these peers
- Madrigal Pharmaceuticals price target raised to $280 from $203 at Piper Sandler
- Madrigal data ‘great readthrough’ for Viking, says H.C. Wainwright
- Madrigal target raised to $225 at H.C. Wainwright after ‘unprecedented results’
- Viking stands to benefit from Madrigal’s resmetirom results, says William Blair
