Akero Therapeutics (NASDAQ:AKRO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Akero Therapeutics (NASDAQ:AKRO) had its price objective upped by stock analysts at HC Wainwright from $50.00 to $72.00 in a report released on Monday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 39.89% from the company’s current price.

Separately, Citigroup assumed coverage on Akero Therapeutics in a research report on Monday, November 18th. They set a “buy” rating and a $65.00 price target on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $51.47 on Monday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.59 billion, a P/E ratio of -13.73 and a beta of -0.19. The firm has a fifty day moving average of $28.90 and a 200-day moving average of $28.33. Akero Therapeutics has a 52-week low of $15.32 and a 52-week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, analysts predict that Akero Therapeutics will post -3.96 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the sale, the chief operating officer now directly owns 218,083 shares of the company’s stock, valued at approximately $6,112,866.49. This represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Catriona Yale sold 15,485 shares of Akero Therapeutics stock in a transaction on Friday, November 1st. The shares were sold at an average price of $32.62, for a total value of $505,120.70. Following the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,419,033.96. This trade represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,620 shares of company stock worth $8,076,127. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Large investors have recently made changes to their positions in the business. abrdn plc raised its holdings in shares of Akero Therapeutics by 118.7% in the 4th quarter. abrdn plc now owns 269,782 shares of the company’s stock worth $7,505,000 after purchasing an additional 146,424 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Akero Therapeutics by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after buying an additional 1,446 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock valued at $16,636,000 after buying an additional 583,486 shares in the last quarter. Exome Asset Management LLC acquired a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $2,212,000. Finally, Barclays PLC boosted its stake in shares of Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company’s stock worth $3,662,000 after acquiring an additional 71,652 shares in the last quarter.

About Akero Therapeutics

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.