Morgan Stanley lowered the firm’s price target on Akero Therapeutics (AKRO) to $84 from $90 and keeps an Overweight rating on the shares. Q1 results were uneventful, following multiple data updates last week, further confirming robust benefits on fibrosis, while execution across the Phase 3 SYNCHRONY program continues to be on track, the analyst tells investors in a research note. The firm updated its model to reflect the report and recent trends, specifically reducing its initial EFX sales and increasing its outer year sales tot reflect a more conservative view on the timing of a U.S. launch in F5 patients, pending outcomes data.
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