Astria Therapeutics price target raised to $22 from $17 at Wedbush

Wedbush raised the firm’s price target on Astria Therapeutics to $22 from $17 and keeps an Outperform rating on the shares. ALPHA-STAR proof-of-concept data for STAR-0215 looks like a best-case scenario for Astria, the firm says. The drug appears active, durable and has minimal adverse events with attack rate reductions ranging from 90%-96%. Attack-free rates are on small numbers of patients, but still bodes well vs. Takhzyro’s observed rates, Wedbush adds. The firm believes the stock is down partly due to the Phase 3 Q3M advancement strategy. From its view, this strategy keeps timelines intact, and Wedbush sees both regimens offering a meaningful improvement over existing standard of care.