Akero Therapeutics (AKRO) stock surged 5.82% in pre-market trading on Tuesday, fueled by analyst optimism following the release of promising late-stage trial data for the company's investigational drug efruxifermin.
Multiple analysts raised their price targets and reiterated Buy/Overweight ratings on AKRO, citing the positive 96-week results from the SYMMETRY trial evaluating efruxifermin for the treatment of non-alcoholic steatohepatitis (NASH).
Notably, Morgan Stanley significantly increased its price target to $96 from $46, with analysts highlighting efruxifermin's potential to capture significant market share and achieve commercial success if approved. Analysts at Canaccord Genuity, Citigroup, and H.C. Wainwright also raised their price targets, maintaining Buy ratings on the stock.
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