10 Best Mid Cap Pharma Stocks to Buy

3. Akero Therapeutics Inc. (NASDAQ:AKRO)

Market Capitalization as of July 22: $4.07 billion

Number of Hedge Fund Holders: 45

Akero Therapeutics Inc. (NASDAQ:AKRO) is one of the best mid cap pharma stocks to buy. On July 16, AstraZeneca announced that its amyloidosis treatment, called anselamimab, failed to meet its primary endpoint in two late-stage Phase III trials, collectively known as Cardiac Amyloid Reaching for Extended Survival/CARES.

Anselamimab is an antibody that targets amyloid deposits to eliminate them. These global, randomized, double-blind, placebo-controlled multicenter trials were conducted by Alexion, which is AstraZeneca’s rare disease division, and enrolled 406 patients across 19 countries with Mayo stages IIIa and IIIb light chain (AL) amyloidosis. AL amyloidosis is a rare, systemic, and progressive disease where abnormal antibody proteins accumulate and damage organs, particularly the heart and kidneys.

The primary endpoint of the CARES studies was a hierarchical combination of time to all-cause mortality and frequency of cardiovascular hospitalizations. While anselamimab did not achieve statistical significance for this primary endpoint across the overall patient population, AstraZeneca stated that a clinically meaningful improvement was observed in a prespecified patient subgroup.

Akero Therapeutics Inc. (NASDAQ:AKRO) engages in the development of treatments for patients with serious metabolic diseases in the US.