Akero Therapeutics (NASDAQ:AKRO) Posts Earnings Results, Beats Expectations By $0.09 EPS

Akero Therapeutics (NASDAQ:AKRO) released its quarterly earnings data on Friday. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09, Zacks reports.

Akero Therapeutics Price Performance

NASDAQ:AKRO traded down $0.55 during trading hours on Monday, hitting $24.19. 382,514 shares of the stock were exchanged, compared to its average volume of 1,016,723. The firm’s fifty day moving average price is $24.22 and its 200 day moving average price is $23.22. Akero Therapeutics has a 52-week low of $11.25 and a 52-week high of $53.77. The company has a market cap of $1.67 billion, a P/E ratio of -7.73 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.

Wall Street Analysts Forecast Growth

AKRO has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday. Bank of America assumed coverage on shares of Akero Therapeutics in a research note on Monday, April 22nd. They set a “neutral” rating and a $30.00 price objective on the stock. Wolfe Research began coverage on shares of Akero Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating on the stock. Canaccord Genuity Group cut their price objective on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Akero Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $41.13.

Insider Activity

In related news, CFO William Richard White sold 34,811 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $28.04, for a total transaction of $976,100.44. Following the completion of the sale, the chief financial officer now directly owns 41,791 shares in the company, valued at $1,171,819.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO William Richard White sold 34,811 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $28.04, for a total value of $976,100.44. Following the transaction, the chief financial officer now directly owns 41,791 shares of the company’s stock, valued at $1,171,819.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 2,516 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $56,962.24. Following the sale, the chief operating officer now directly owns 250,790 shares of the company’s stock, valued at approximately $5,677,885.60. The disclosure for this sale can be found here. Insiders have sold a total of 205,529 shares of company stock worth $5,452,376 over the last quarter. 7.94% of the stock is currently owned by corporate insiders.

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.