Astria Therapeutics initiated with an Outperform at JMP Securities

JMP Securities analyst Jonathan Wolleben initiated coverage of Astria Therapeutics (ATXS) with an Outperform rating and $26 price target Astria is using its half-life extension technology to develop long-acting mAbs targeting “de-risked targets in large, proven markets,” the analyst tells investors in a research note. The firm says the company’s lead candidate, navenibart, which is starting Phase 3 testing to prevent hereditary angioedema attacks, is addressing a “proven, blockbuster market.” JMP says navenibart has a de-risked mechanism with extended durability.