Akero Therapeutics is garnering attention due to promising clinical trial results for its drug candidate, efruxifermin (EFX), in the treatment of metabolic dysfunction-associated steatohepatitis (MASH). Recent analyses from the Phase 2b HARMONY study have demonstrated that EFX shows a significant anti-fibrotic effect in patients with F2/F3 MASH, evidenced by improvements in non-invasive measures and histopathology.
EFX's Impact on Fibrosis in MASH Patients
The HARMONY study's findings highlight EFX's potential to improve fibrosis in MASH patients. The anticipation of upcoming results from the Phase 2b SYMMETRY study, which will focus on EFX’s effects in F4 MASH, is seen as a critical catalyst for the company’s future. Improvements in fibrosis treatment with EFX could present substantial upside potential for Akero Therapeutics.
SYNCHRONY Study and Future Expectations
The completion of enrollment for the Phase 3 SYNCHRONY study's double-blind portion marks a significant step forward, with top-line data expected in the first half of 2026. This study aims to assess the safety and tolerability of EFX, with evidence from previous studies suggesting a favorable safety profile and potential for fibrosis improvement.
Analyst Ratings and Market Potential
Ed Arce from H.C. Wainwright maintained a Buy rating on Akero Therapeutics' stock with a $50.00 price target. This rating is based on the promising developments in Akero Therapeutics’ SYNCHRONY Real-World study and the potential of efruxifermin (EFX) in treating MASH and MASLD. Morgan Stanley also maintained a Buy rating on the stock with a $46.00 price target.
The analysis considers the risk-adjusted value of EFX for patients with MASH and F2/F3 fibrosis, estimating a significant per-share value, supported by potential global peak revenues in 2037. Additionally, the market exclusivity projected through 2037 adds to the stock’s attractiveness. However, key risks such as trial failures or safety issues are acknowledged.
