Astria Therapeutics price target raised to $20 from $16 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Astria Therapeutics (ATXS) to $20 from $16 and keeps a Buy rating on the shares. Astria presented positive initial results from the Phase 1a study of STAR-0310, with STAR-0310 exhibiting the longest-in-class half-life of 68 days and cytokine suppression lasting at least 20 weeks after a single 300mg SC injection, supporting potential every-six-month administration, the analyst tells investors in a research note. Biomarker results showed that a single, subcutaneous injection of STAR-0310 resulted in sustained and durable ex vivo cytokine inhibition for the duration of the observation period of 16 to 20 weeks, supporting robust target engagement, the firm adds, noting that the wider therapeutic window could drive lasting efficacy for people living with atopic dermatitis.