Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $76.29 Average Price Target from Analysts

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $76.29.

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

Akero Therapeutics Stock Down 1.0 %

Shares of NASDAQ AKRO opened at $44.87 on Wednesday. The business has a fifty day moving average of $41.66 and a two-hundred day moving average of $37.12. 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 52-week low of $17.86 and a 52-week high of $58.40. The stock has a market cap of $3.58 billion, a PE ratio of -11.97 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). As a group, equities research analysts expect that Akero Therapeutics will post -3.99 earnings per share for the current fiscal year.

Insider Activity at Akero Therapeutics

In related news, CFO William Richard White sold 676 shares of the firm’s 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Rolph sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $56.51, for a total transaction of $1,059,562.50. Following the sale, the insider now directly owns 170,237 shares of the company’s stock, valued at approximately $9,620,092.87. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,458 shares of company stock worth $9,733,261 in the last ninety days. 7.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in Akero Therapeutics during the 4th quarter worth $41,000. Sterling Capital Management LLC lifted its stake in shares of Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock worth $50,000 after acquiring an additional 1,582 shares during the period. Amalgamated Bank boosted its holdings in Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock valued at $104,000 after acquiring an additional 410 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock valued at $114,000 after purchasing an additional 338 shares during the period. Finally, KBC Group NV bought a new position in Akero Therapeutics during the 1st quarter worth approximately $120,000.

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.