In a report released yesterday, Edward Nash from Canaccord Genuity maintained a Buy rating on Akero Therapeutics (AKRO – Research Report), with a price target of $73.00.
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Edward Nash’s rating is based on several promising developments at Akero Therapeutics. The company has successfully raised $402.5 million through a follow-on offering, bolstering its financial position with $1.1 billion in cash as of the first quarter of 2025. This capital raise follows a positive 96-week readout from the Phase IIb SYMMETRY study for their lead candidate, efruxifermin, in treating F4 MASH.
Furthermore, Akero is progressing with its Phase III SYNCHRONY Real-World study, which is set to deliver preliminary top-line data in the first half of 2026. The SYNCHRONY Real-World trial, which has completed patient enrollment, is evaluating the safety and tolerability of efruxifermin in a large cohort of patients with metabolic dysfunction-associated steatotic liver disease or MASH. These developments underpin the Buy rating, with a 12-month price target of $73.
According to TipRanks, Nash is a 5-star analyst with an average return of 12.5% and a 43.58% success rate. Nash covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, Rani Therapeutics Holdings, and Madrigal Pharmaceuticals.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $63.00 price target.