Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $81.14 Average Target Price from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has received an average rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $81.1429.

A number of brokerages recently weighed in on AKRO. TD Cowen began coverage on Akero Therapeutics in a report on Monday, August 4th. They set a “buy” rating and a $76.00 price objective on the stock. Wall Street Zen lowered Akero Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Cowen initiated coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a “buy” rating on the stock. Finally, HC Wainwright initiated coverage on Akero Therapeutics in a report on Thursday, September 4th. They issued a “buy” rating and a $72.00 target price on the stock.

Insider Buying and Selling

In related news, CEO Andrew Cheng sold 1,796 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $77,263.92. Following the transaction, the chief executive officer directly owned 473,902 shares in the company, valued at approximately $20,387,264.04. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Richard White sold 659 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $43.02, for a total value of $28,350.18. Following the transaction, the chief financial officer owned 57,752 shares in the company, valued at $2,484,491.04. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 166,753 shares of company stock valued at $7,982,839 in the last three months. 7.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

A number of large investors have recently modified their holdings of the stock. Holocene Advisors LP acquired a new stake in Akero Therapeutics during the 2nd quarter valued at approximately $57,396,000. Bank of America Corp DE grew its stake in Akero Therapeutics by 406.7% during the 2nd quarter. Bank of America Corp DE now owns 1,320,461 shares of the company’s stock valued at $70,460,000 after purchasing an additional 1,059,860 shares in the last quarter. Bellevue Group AG grew its stake in Akero Therapeutics by 58.7% during the 2nd quarter. Bellevue Group AG now owns 1,985,272 shares of the company’s stock valued at $105,934,000 after purchasing an additional 734,606 shares in the last quarter. SG Americas Securities LLC grew its stake in Akero Therapeutics by 93.3% during the 1st quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company’s stock valued at $46,786,000 after purchasing an additional 557,794 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Akero Therapeutics during the 1st quarter valued at approximately $21,333,000.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $47.62 on Friday. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics has a twelve month low of $21.34 and a twelve month high of $58.40. The stock has a 50 day moving average of $47.42 and a two-hundred day moving average of $46.60. The stock has a market cap of $3.81 billion, a P/E ratio of -23.81 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period in the previous year, the firm posted ($0.81) EPS. On average, research analysts forecast that Akero Therapeutics will post -3.99 earnings per share for the current year.

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.