Akero Therapeutics (NASDAQ:AKRO) Stock Rating Upgraded by Wall Street Zen

Akero Therapeutics (NASDAQ:AKRO) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other research analysts have also commented on the company. HC Wainwright began coverage on Akero Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $72.00 price target for the company. Cowen initiated coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Akero Therapeutics in a research report on Saturday, September 27th. Finally, TD Cowen assumed coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a “buy” rating and a $76.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.14.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $46.10 on Friday. Akero Therapeutics has a 52-week low of $21.34 and a 52-week high of $58.40. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $47.05 and its 200 day moving average is $46.64. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -23.05 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.11. During the same quarter in the previous year, the firm earned ($0.81) earnings per share. Sell-side analysts forecast that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $48.59, for a total value of $1,457,700.00. Following the completion of the transaction, the chief executive officer owned 490,757 shares of the company’s stock, valued at approximately $23,845,882.63. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $52.95, for a total value of $529,500.00. Following the sale, the insider directly owned 91,488 shares of the company’s stock, valued at approximately $4,844,289.60. This represents a 9.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,253 shares of company stock valued at $8,579,839 in the last 90 days. Corporate insiders own 7.07% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Akero Therapeutics by 18.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,451 shares of the company’s stock worth $1,988,000 after purchasing an additional 11,035 shares during the period. GAMMA Investing LLC grew its holdings in Akero Therapeutics by 8,057.1% during the first quarter. GAMMA Investing LLC now owns 10,849 shares of the company’s stock worth $439,000 after acquiring an additional 10,716 shares during the period. Rhumbline Advisers raised its position in Akero Therapeutics by 4.7% during the first quarter. Rhumbline Advisers now owns 110,687 shares of the company’s stock valued at $4,481,000 after acquiring an additional 5,001 shares in the last quarter. SG Americas Securities LLC raised its position in Akero Therapeutics by 93.3% during the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company’s stock valued at $46,786,000 after acquiring an additional 557,794 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Akero Therapeutics in the first quarter valued at approximately $297,000.

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.