** Drug developer Akero Therapeutics' AKRO.O shares rise ~2.5% to $28.78

** Citi initiates coverage of AKRO with "buy" rating

** Brokerage says AKRO is developing efruxifermin, a novel FGF21 agonist, for treating metabolic dysfunction-associated steatohepatitis (MASH)

** MASH causes an excessive accumulation of fat in the liver

** "Efruxifermin is well-positioned to differentiate in this difficult-to-treat population given its potential best-in-disease efficacy," says Citi

** Brokerage sets PT at $65, a ~131.4% upside on stock's last close

** Ten of 11 brokerages rate the stock "buy" or higher, 1 "hold"; their median PT is $46 - LSEG data

** Including session's moves, stock up ~22.23% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))