Morgan Stanley analyst Michael Ulz upgraded Akero Therapeutics to Overweight from Equal Weight with a price target of $65, up from $40. The company’s positive Phase 2 HARMONY data for efruxifermin in pre-cirrhotic nonalcoholic steatohepatitis last year indicated a market leading efficacy profile, and "multiple key catalysts" for efruxifermin could drive share upside, the analyst tells investors in a research note. The firm cites "clear visibility to multiple catalysts" and a favorable shift in nonalcoholic steatohepatitis sentiment for the upgrade of Akero.
Published first on TheFly
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