Wolfe Research Downgrades Akero Therapeutics (NASDAQ:AKRO) to Hold

Akero Therapeutics (NASDAQ:AKROGet Free Report) was downgraded by equities research analysts at Wolfe Research from an “outperform” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Several other brokerages also recently weighed in on AKRO. Jefferies Financial Group downgraded Akero Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $56.00 in a research note on Thursday. Wall Street Zen raised Akero Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. TD Cowen began coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a “buy” rating and a $76.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Akero Therapeutics in a research note on Wednesday. Finally, Canaccord Genuity Group downgraded Akero Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $73.00 to $54.00 in a research note on Thursday. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.38.

View Our Latest Report on AKRO

Akero Therapeutics Stock Down 0.4%

Shares of Akero Therapeutics stock opened at $53.88 on Friday. The business’s fifty day moving average price is $47.15 and its two-hundred day moving average price is $46.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The company has a market capitalization of $4.31 billion, a P/E ratio of -26.94 and a beta of -0.29. Akero Therapeutics has a 1-year low of $21.34 and a 1-year high of $58.40.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same period in the prior year, the company posted ($0.81) EPS. As a group, research analysts forecast that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Activity at Akero Therapeutics

In other news, CFO William Richard White sold 659 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $28,350.18. Following the sale, the chief financial officer directly owned 57,752 shares of the company’s stock, valued at $2,484,491.04. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Catriona Yale sold 659 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $43.02, for a total value of $28,350.18. Following the sale, the insider directly owned 90,829 shares in the company, valued at $3,907,463.58. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 149,253 shares of company stock valued at $6,982,414 over the last ninety days. Company insiders own 7.07% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Akero Therapeutics during the second quarter worth $28,000. Northwest & Ethical Investments L.P. acquired a new position in Akero Therapeutics during the first quarter valued at $32,000. PNC Financial Services Group Inc. raised its position in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after buying an additional 390 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Akero Therapeutics during the second quarter valued at $71,000. Finally, GF Fund Management CO. LTD. raised its position in Akero Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company’s stock valued at $72,000 after buying an additional 321 shares during the period.

About Akero Therapeutics

(Get Free Report)

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.

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