Brokerages Set Akero Therapeutics, Inc. (NASDAQ:AKRO) Target Price at $76.29

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have been given an average rating of “Buy” by the nine ratings firms that are covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $76.29.

A number of research firms have recently commented on AKRO. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup raised their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, HC Wainwright upped their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $35.97 on Friday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 52 week low of $17.86 and a 52 week high of $58.40. The firm’s 50 day moving average is $47.10 and its two-hundred day moving average is $35.66. The firm has a market capitalization of $2.86 billion, a P/E ratio of -9.59 and a beta of -0.18.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). Research analysts forecast that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

Insider Activity at Akero Therapeutics

In other news, insider Timothy Rolph sold 31,250 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $55.77, for a total value of $1,742,812.50. Following the completion of the sale, the insider now directly owns 170,237 shares of the company’s stock, valued at $9,494,117.49. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the vice president now owns 33,492 shares in the company, valued at approximately $1,910,048.76. This trade represents a 12.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 341,309 shares of company stock worth $15,863,578 and have sold 242,135 shares worth $12,064,779. 7.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of AKRO. abrdn plc grew its stake in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company’s stock worth $7,505,000 after purchasing an additional 146,424 shares during the period. Charles Schwab Investment Management Inc. grew its position in Akero Therapeutics by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock worth $15,042,000 after buying an additional 8,096 shares during the period. FMR LLC increased its holdings in Akero Therapeutics by 732.1% in the third quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after buying an additional 26,691 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Akero Therapeutics in the fourth quarter valued at about $320,000. Finally, SG Americas Securities LLC lifted its position in shares of Akero Therapeutics by 4,022.1% during the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock valued at $16,636,000 after acquiring an additional 583,486 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.