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Akero Therapeutics initiated with a Buy at Clear Street

Clear Street last night initiated coverage of Akero Therapeutics (AKRO) with a Buy rating and $49 price target The company’s sole clinical asset and FGF21R agonist, Efruxifermin, demonstrates “best-in-class potential” for metabolic dysfunction-associated steatohepatitis treatment with a high probability of success in ongoing Phase 3 studies, the analyst tells investors in a research note. The firm says Efruxifermin’s “superior efficacy” versus competitors in the F4 cirrhosis market “establishes clear differentiation.”

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