Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $41.13 Consensus Target Price from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $41.13.

Several analysts recently issued reports on the company. Canaccord Genuity Group cut their target price on Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Tuesday, June 11th. Wolfe Research started coverage on Akero Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. Finally, Bank of America started coverage on Akero Therapeutics in a research report on Monday, April 22nd. They set a “neutral” rating and a $30.00 price objective on the stock.

Insider Activity

In other news, CFO William Richard White sold 34,811 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $28.04, for a total transaction of $976,100.44. Following the completion of the transaction, the chief financial officer now directly owns 41,791 shares in the company, valued at $1,171,819.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO William Richard White sold 34,811 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $28.04, for a total transaction of $976,100.44. Following the completion of the transaction, the chief financial officer now directly owns 41,791 shares in the company, valued at $1,171,819.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cheng sold 7,894 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $178,720.16. Following the transaction, the chief executive officer now owns 581,553 shares of the company’s stock, valued at $13,166,359.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,529 shares of company stock worth $5,452,376. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Akero Therapeutics in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. raised its holdings in Akero Therapeutics by 2,366.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after acquiring an additional 1,183 shares during the last quarter. Quarry LP raised its holdings in Akero Therapeutics by 40.0% in the 4th quarter. Quarry LP now owns 1,750 shares of the company’s stock worth $41,000 after acquiring an additional 500 shares during the last quarter. Strs Ohio raised its holdings in Akero Therapeutics by 100.0% in the 4th quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Akero Therapeutics in the 4th quarter worth approximately $75,000.

Akero Therapeutics Stock Down 4.5 %

Shares of NASDAQ:AKRO opened at $25.17 on Monday. The stock’s 50-day moving average price is $23.65 and its 200-day moving average price is $23.14. Akero Therapeutics has a 12-month low of $11.25 and a 12-month high of $53.77. The stock has a market capitalization of $1.74 billion, a P/E ratio of -7.87 and a beta of -0.28. The company has a current ratio of 30.12, a quick ratio of 30.12 and a debt-to-equity ratio of 0.04.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, May 10th. The company reported ($0.90) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.90). On average, equities analysts anticipate that Akero Therapeutics will post -3.82 earnings per share for the current year.

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.