Akero Therapeutics (NASDAQ:AKRO) Price Target Raised to $30.00 at Morgan Stanley

Akero Therapeutics (NASDAQ:AKROGet Rating) had its target price boosted by Morgan Stanley from $26.00 to $30.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have an equal weight rating on the stock.

AKRO has been the topic of a number of other reports. Raymond James upped their target price on Akero Therapeutics from $14.00 to $25.00 in a research report on Tuesday. Evercore ISI raised Akero Therapeutics from an in-line rating to an outperform rating and upped their target price for the company from $10.00 to $50.00 in a research report on Tuesday.

Akero Therapeutics Stock Performance

Akero Therapeutics stock opened at $27.70 on Wednesday. The stock’s 50 day moving average price is $12.27 and its 200 day moving average price is $11.88. The firm has a market capitalization of $1.04 billion, a PE ratio of -8.71 and a beta of 0.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.90 and a current ratio of 6.90. Akero Therapeutics has a one year low of $7.52 and a one year high of $29.78.

Akero Therapeutics (NASDAQ:AKROGet Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.08. As a group, sell-side analysts expect that Akero Therapeutics will post -3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Akero Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in shares of Akero Therapeutics by 24.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,300,000 shares of the company’s stock valued at $21,735,000 after acquiring an additional 453,000 shares in the last quarter. Wellington Management Group LLP grew its stake in Akero Therapeutics by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 2,232,523 shares of the company’s stock worth $31,679,000 after buying an additional 355,712 shares during the last quarter. Yiheng Capital Management L.P. grew its stake in Akero Therapeutics by 21.2% during the 2nd quarter. Yiheng Capital Management L.P. now owns 1,882,698 shares of the company’s stock worth $17,792,000 after buying an additional 329,708 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Akero Therapeutics by 70.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,863,604 shares of the company’s stock worth $17,612,000 after buying an additional 770,924 shares during the last quarter. Finally, State Street Corp grew its stake in Akero Therapeutics by 20.0% during the 1st quarter. State Street Corp now owns 1,239,117 shares of the company’s stock worth $17,583,000 after buying an additional 206,496 shares during the last quarter.

Akero Therapeutics Company Profile

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Akero Therapeutics, Inc, a cardio-metabolic nonalcoholic steatohepatitis (NASH) company, engages in the development of medicines designed to restore metabolic balance and improve overall health. The company's lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.

Further Reading

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