Akero Therapeutics (NASDAQ:AKRO) Price Target Raised to $72.00

Akero Therapeutics (NASDAQ:AKRO) had its price target upped by analysts at HC Wainwright from $50.00 to $72.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 38.91% from the company’s previous close.

Separately, Citigroup assumed coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Akero Therapeutics Stock Performance

Shares of AKRO stock traded up $25.65 during mid-day trading on Monday, reaching $51.83. The stock had a trading volume of 9,954,768 shares, compared to its average volume of 1,539,554. Akero Therapeutics has a one year low of $15.32 and a one year high of $58.40. The firm has a market cap of $3.62 billion, a PE ratio of -13.82 and a beta of -0.19. The firm’s 50 day simple moving average is $28.47 and its 200 day simple moving average is $28.14. 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 (NASDAQ:AKRO) last issued its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics will post -3.96 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Catriona Yale sold 15,485 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $32.62, for a total value of $505,120.70. Following the completion of the transaction, the insider now owns 74,158 shares of the company’s stock, valued at $2,419,033.96. The trade was a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $31.73, for a total value of $3,438,453.18. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,209,881.41. The trade was a 15.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,135 shares of company stock valued at $8,223,000. 7.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akero Therapeutics

Several institutional investors have recently added to or reduced their stakes in AKRO. American Century Companies Inc. bought a new stake in Akero Therapeutics in the 2nd quarter valued at approximately $347,000. Renaissance Technologies LLC bought a new stake in shares of Akero Therapeutics in the second quarter worth $565,000. The Manufacturers Life Insurance Company boosted its holdings in Akero Therapeutics by 26.1% during the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock worth $2,514,000 after purchasing an additional 22,195 shares during the last quarter. Perceptive Advisors LLC grew its position in Akero Therapeutics by 8.1% in the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock valued at $35,188,000 after purchasing an additional 112,426 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Akero Therapeutics by 12.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock valued at $574,000 after buying an additional 2,200 shares during the last quarter.

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.