Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $46.83 Average PT from Brokerages

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $46.83.

Several research firms recently weighed in on AKRO. Citigroup started coverage on Akero Therapeutics in a report on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a report on Monday, November 18th.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 24,992 shares of Akero Therapeutics stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.14, for a total value of $778,250.88. Following the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $18,852,685.38. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Richard White sold 2,817 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $86,735.43. Following the sale, the chief financial officer now owns 38,335 shares of the company’s stock, valued at approximately $1,180,334.65. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 386,802 shares of company stock valued at $12,114,600 in the last 90 days. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds have recently modified their holdings of the stock. Exome Asset Management LLC purchased a new stake in Akero Therapeutics during the 3rd quarter worth approximately $2,212,000. Barclays PLC lifted its stake in shares of Akero Therapeutics by 127.9% during the third quarter. Barclays PLC now owns 127,668 shares of the company’s stock worth $3,662,000 after buying an additional 71,652 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Akero Therapeutics by 13.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock valued at $485,000 after buying an additional 2,049 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Akero Therapeutics in the 3rd quarter valued at $308,000. Finally, Wellington Management Group LLP raised its stake in Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after acquiring an additional 2,782,029 shares during the last quarter.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $27.82 on Thursday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -7.42 and a beta of -0.23. The firm has a 50-day moving average of $30.57 and a two-hundred day moving average of $27.79. Akero Therapeutics has a 1 year low of $15.32 and a 1 year high of $37.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, research analysts forecast that Akero Therapeutics will post -3.96 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.