Brokerages Set Akero Therapeutics, Inc. (NASDAQ:AKRO) PT at $76.29

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

A number of research firms recently commented on AKRO. Morgan Stanley restated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. HC Wainwright raised their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Canaccord Genuity Group increased their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Citigroup upped their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th.

Akero Therapeutics Trading Up 1.5 %

Akero Therapeutics stock opened at $44.82 on Tuesday. Akero Therapeutics has a 52 week low of $17.86 and a 52 week high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.95 and a beta of -0.19. The company has a 50 day moving average price of $42.44 and a 200 day moving average price of $34.02.

Akero Therapeutics (NASDAQ:AKRO) last issued its 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). Research analysts forecast that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Activity at Akero Therapeutics

In other news, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the transaction, the chief executive officer now directly owns 716,062 shares in the company, valued at $39,311,803.80. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,135 shares of company stock worth $11,897,479 in the last 90 days. 7.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akero Therapeutics

A number of institutional investors have recently added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. acquired a new position in Akero Therapeutics in the 4th quarter valued at approximately $41,000. Sterling Capital Management LLC increased its position in shares of Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock valued at $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP acquired a new position in shares of Akero Therapeutics in the fourth quarter valued at $83,000. Summit Investment Advisors Inc. lifted its position in 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 purchasing an additional 450 shares during the period. Finally, Summit Financial Wealth Advisors LLC acquired a new stake in Akero Therapeutics during the third quarter worth $205,000.

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.