Rami Katkhuda, an analyst from LifeSci Capital, maintained the Buy rating on Akero Therapeutics. The associated price target remains the same with $80.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors that highlight the strategic value of Akero Therapeutics. The recent acquisition of 89bio by Roche for a substantial amount underscores the potential of the FGF21 class, to which Akero’s therapies belong. This acquisition not only validates the clinical promise of FGF21 analogs but also elevates Akero’s strategic positioning in the market.
Furthermore, the transaction highlights Roche’s commitment to expanding its cardiovascular and metabolic pipeline, which aligns with Akero’s focus. The significant premium paid by Roche for 89bio shares reflects confidence in the future success of FGF21-targeting therapies, suggesting a positive outlook for Akero’s similar offerings. These developments collectively support a strong Buy recommendation for Akero Therapeutics.
In another report released on September 4, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $72.00 price target.