Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $82.50 Average PT from Brokerages

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $82.50.

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

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $52.08 on Monday. Akero Therapeutics has a twelve month low of $21.34 and a twelve month high of $58.40. The stock’s 50 day moving average price is $50.63 and its 200-day moving average price is $44.35. The company has a market capitalization of $4.15 billion, a PE ratio of -26.71 and a beta of -0.15. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03.

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

Insider Activity at Akero Therapeutics

In related news, VP Patrick Lamy sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total value of $105,760.00. Following the sale, the vice president owned 29,891 shares in the company, valued at approximately $1,580,636.08. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Scott A. Gangloff sold 848 shares of Akero Therapeutics stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $54.84, for a total transaction of $46,504.32. Following the transaction, the chief technology officer owned 23,452 shares in the company, valued at $1,286,107.68. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 242,156 shares of company stock valued at $12,119,228 over the last ninety days. Corporate insiders own 7.07% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

A number of large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in Akero Therapeutics in the 2nd quarter valued at about $203,000. Palumbo Wealth Management LLC purchased a new stake in Akero Therapeutics in the 2nd quarter valued at about $262,000. Voya Investment Management LLC boosted its position in Akero Therapeutics by 302.9% in the 1st quarter. Voya Investment Management LLC now owns 82,471 shares of the company’s stock valued at $3,338,000 after buying an additional 62,000 shares during the period. Rhumbline Advisers boosted its position in Akero Therapeutics by 4.7% in the 1st quarter. Rhumbline Advisers now owns 110,687 shares of the company’s stock valued at $4,481,000 after buying an additional 5,001 shares during the period. Finally, Strs Ohio purchased a new stake in Akero Therapeutics in the 1st quarter valued at about $510,000.

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.