Brokerages Set Akero Therapeutics, Inc. (NASDAQ:AKRO) Target Price at $82.50

Akero Therapeutics, Inc. (NASDAQ:AKRO) has been given a consensus rating of “Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $82.50.

AKRO has been the subject of a number of analyst reports. Bank of America boosted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Citigroup cut their price target on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Tuesday, May 13th.

Akero Therapeutics Stock Up 3.6%

AKRO opened at $53.60 on Monday. The business’s fifty day moving average is $50.16 and its two-hundred day moving average is $44.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.80 and a current ratio of 16.80. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -27.49 and a beta of -0.15. Akero Therapeutics has a one year low of $21.34 and a one year high of $58.40.

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

Insiders Place Their Bets

In related news, VP Patrick Lamy sold 8,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $42.49, for a total value of $339,920.00. Following the completion of the transaction, the vice president directly owned 33,492 shares in the company, valued at approximately $1,423,075.08. This represents a 19.28% 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, insider Catriona Yale sold 10,000 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $39.30, for a total value of $393,000.00. Following the completion of the transaction, the insider owned 95,034 shares of the company’s stock, valued at $3,734,836.20. The trade was a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,156 shares of company stock valued at $11,589,728. 7.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Tema Etfs LLC acquired a new stake in Akero Therapeutics during the fourth quarter worth about $894,000. Principal Financial Group Inc. acquired a new stake in Akero Therapeutics during the first quarter worth about $10,404,000. Cubist Systematic Strategies LLC acquired a new stake in Akero Therapeutics during the fourth quarter worth about $840,000. RTW Investments LP increased its stake in Akero Therapeutics by 15.9% during the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock worth $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Akero Therapeutics during the fourth quarter worth about $422,000.

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.