Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $76.29 Consensus Price Target from Analysts

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) has been assigned an average recommendation of "Buy" from the nine brokerages that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $76.29.

A number of research firms recently weighed in on AKRO. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup lifted their target price on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. UBS Group increased their price target on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research report on Friday, January 31st. 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd.

Insider Activity at Akero Therapeutics

In other news, insider Timothy Rolph sold 31,250 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $55.77, for a total value of $1,742,812.50. Following the transaction, the insider now directly owns 170,237 shares of the company's stock, valued at $9,494,117.49. This represents a 15.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick Lamy sold 1,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $29.13, for a total transaction of $29,130.00. Following the sale, the vice president now owns 34,258 shares of the company's stock, valued at approximately $997,935.54. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 248,574 shares of company stock worth $12,027,614. Company insiders own 7.94% of the company's stock.

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Hedge Funds Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $211,000. Simplify Asset Management Inc. lifted its holdings in shares of Akero Therapeutics by 15.6% during the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock worth $8,141,000 after buying an additional 38,279 shares in the last quarter. LMR Partners LLP lifted its holdings in shares of Akero Therapeutics by 17.0% during the third quarter. LMR Partners LLP now owns 20,597 shares of the company's stock worth $591,000 after buying an additional 2,997 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Akero Therapeutics in the third quarter valued at about $491,000. Finally, Algert Global LLC grew its stake in shares of Akero Therapeutics by 8.3% in the third quarter. Algert Global LLC now owns 68,052 shares of the company's stock valued at $1,952,000 after acquiring an additional 5,191 shares in the last quarter.

Akero Therapeutics Stock Down 1.6 %

Shares of NASDAQ:AKRO traded down $0.71 during mid-day trading on Tuesday, reaching $44.15. 599,300 shares of the stock were exchanged, compared to its average volume of 839,773. The stock's 50 day simple moving average is $41.78 and its 200-day simple moving average is $33.67. Akero Therapeutics has a one year low of $17.86 and a one year high of $58.40. The company has a market cap of $3.52 billion, a P/E ratio of -11.77 and a beta of -0.19. 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 - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). As a group, equities research analysts predict that Akero Therapeutics will post -3.99 EPS 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.