Citigroup Issues Pessimistic Forecast for Akero Therapeutics (NASDAQ:AKRO) Stock Price

Akero Therapeutics (NASDAQ:AKRO) had its price objective lowered by research analysts at Citigroup from $80.00 to $78.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 105.91% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. UBS Group increased their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a report on Friday, January 31st. Canaccord Genuity Group boosted their price target on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. HC Wainwright lifted their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $76.00.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO opened at $37.88 on Tuesday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $40.98 and a 200 day moving average price of $37.66. Akero Therapeutics has a 52 week low of $17.86 and a 52 week high of $58.40. The company has a market cap of $3.02 billion, a P/E ratio of -10.10 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.01) by $1.91. Research analysts predict that Akero Therapeutics will post -3.99 earnings per share for the current year.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $41.48, for a total value of $1,244,400.00. Following the completion of the transaction, the chief executive officer now directly owns 594,324 shares in the company, valued at approximately $24,652,559.52. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G. Walmsley Graham purchased 91,309 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average cost of $44.75 per share, for a total transaction of $4,086,077.75. Following the completion of the purchase, the director now owns 1,091,309 shares in the company, valued at $48,836,077.75. The trade was a 9.13% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 219,208 shares of company stock valued at $9,218,994 over the last three months. 7.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. raised its stake 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 worth $72,000 after purchasing an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock valued at $114,000 after acquiring an additional 338 shares during the last quarter. PNC Financial Services Group Inc. grew 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 acquiring an additional 390 shares during the period. Amalgamated Bank increased its stake in Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock worth $104,000 after acquiring an additional 410 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Akero Therapeutics by 6.8% in the 4th 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.

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.