Akero Therapeutics, Inc. (NASDAQ:AKRO) Given Consensus Recommendation of "Buy" by Analysts

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) has received an average rating of "Buy" from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $75.86.

A number of brokerages have recently commented on AKRO. Canaccord Genuity Group boosted 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. HC Wainwright increased their target price on Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Citigroup lifted their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Morgan Stanley upped their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Finally, UBS Group lifted their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a report on Friday, January 31st.

Akero Therapeutics Stock Up 2.6 %

AKRO traded up $1.29 during midday trading on Friday, reaching $50.52. The company's stock had a trading volume of 875,286 shares, compared to its average volume of 2,119,158. Akero Therapeutics has a 1 year low of $17.86 and a 1 year high of $58.40. The stock's 50-day moving average is $34.96 and its 200-day moving average is $30.88. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -13.47 and a beta of -0.11. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In other news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the sale, the chief operating officer now directly owns 218,083 shares in the company, valued at $6,112,866.49. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $28,480.75. Following the transaction, the vice president now owns 17,858 shares in the company, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,992 shares of company stock valued at $9,134,713. 7.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Akero Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock valued at $71,000 after acquiring an additional 446 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after purchasing an additional 450 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Akero Therapeutics by 8.5% during the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after purchasing an additional 621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Akero Therapeutics by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company's stock worth $1,153,000 after purchasing an additional 637 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Akero Therapeutics by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock worth $584,000 after buying an additional 1,000 shares during the last quarter.

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.