Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on Astria Therapeutics and decreased the price target to $13.00 from $23.00.
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Sam Slutsky’s rating is based on the strategic acquisition of Astria Therapeutics by BioCryst Pharmaceuticals, which highlights the potential value of Astria’s lead asset, navenibart. This long-acting monoclonal antibody is being developed for hereditary angioedema (HAE) prophylaxis, and the acquisition suggests confidence in its potential to become a best-in-class therapy. The ongoing Phase 3 ALPHA-ORBIT trial, which aims to evaluate navenibart’s efficacy, further supports this optimism, with topline data expected in early 2027.
Additionally, the acquisition deal values Astria’s stock at $13 per share, combining cash and stock components, which underscores the perceived value of Astria’s pipeline. The strategic fit of navenibart within BioCryst’s existing HAE portfolio, along with the potential for a seamless integration of therapies, adds to the rationale for the Buy rating. Furthermore, BioCryst’s plan to explore strategic alternatives for Astria’s second asset, STAR-0310, aligns with its focus on rare diseases, enhancing the overall strategic outlook.
Slutsky covers the Healthcare sector, focusing on stocks such as Palvella Therapeutics, Abivax SA Sponsored ADR, and Astria Therapeutics. According to TipRanks, Slutsky has an average return of 20.4% and a 45.16% success rate on recommended stocks.
In another report released on October 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.