Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $76.29 Consensus PT from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $76.29.

A number of analysts recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Citigroup raised their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, HC Wainwright upped their target price on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd.

Akero Therapeutics Stock Up 9.8 %

Shares of NASDAQ AKRO opened at $37.36 on Friday. The firm has a market cap of $2.97 billion, a P/E ratio of -9.96 and a beta of -0.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. Akero Therapeutics has a 1 year low of $17.86 and a 1 year high of $58.40. The firm’s 50 day moving average price is $45.66 and its 200 day moving average price is $35.76.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). As a group, sell-side analysts anticipate that Akero Therapeutics will post -3.99 earnings per share for the current year.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, Director G. Walmsley Graham purchased 50,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $43.55 per share, with a total value of $2,177,500.00. Following the completion of the transaction, the director now owns 1,200,000 shares in the company, valued at $52,260,000. The trade was a 4.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Richard White sold 676 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $30,338.88. Following the sale, the chief financial officer now directly owns 61,959 shares in the company, valued at approximately $2,780,719.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 341,309 shares of company stock valued at $15,863,578 and have sold 242,135 shares valued at $12,064,779. 7.94% of the stock is currently owned by insiders.

Institutional Trading of Akero Therapeutics

Several large investors have recently bought and sold shares of AKRO. GF Fund Management CO. LTD. bought a new position in Akero Therapeutics in the fourth quarter valued at about $41,000. Sterling Capital Management LLC raised its holdings in Akero Therapeutics by 764.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock valued at $50,000 after buying an additional 1,582 shares during the last quarter. Quarry LP acquired a new stake in Akero Therapeutics during the 4th quarter worth approximately $83,000. Summit Investment Advisors Inc. lifted its stake in shares of Akero Therapeutics by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock worth $197,000 after acquiring an additional 450 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock worth $220,000 after acquiring an additional 621 shares in the last quarter.

Akero Therapeutics Company Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.