Akero Therapeutics (NASDAQ:AKRO) Given New $96.00 Price Target at Morgan Stanley

Akero Therapeutics (NASDAQ:AKRO - Free Report) had its price target increased by Morgan Stanley from $46.00 to $96.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

AKRO has been the subject of several other reports. Citigroup upped their target price on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday. Canaccord Genuity Group upped their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday. Finally, HC Wainwright raised their price objective on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $75.86.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO traded down $1.28 during midday trading on Tuesday, hitting $54.08. The company's stock had a trading volume of 1,380,855 shares, compared to its average volume of 1,950,830. The company has a market cap of $3.77 billion, a P/E ratio of -14.42 and a beta of -0.19. Akero Therapeutics has a 12-month low of $15.32 and a 12-month high of $58.40. The business's 50 day simple moving average is $30.69 and its 200 day simple moving average is $29.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Timothy Rolph sold 31,250 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $55.77, for a total transaction of $1,742,812.50. Following the completion of the transaction, the insider now directly owns 170,237 shares in the company, valued at $9,494,117.49. This trade represents a 15.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the vice president now directly owns 33,492 shares of the company's stock, valued at approximately $1,910,048.76. This represents a 12.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,303 shares of company stock valued at $6,206,412 over the last 90 days. 7.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AKRO. Mirae Asset Global Investments Co. Ltd. increased its stake in Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after buying an additional 446 shares during the period. Eastern Bank acquired a new position in shares of Akero Therapeutics in the third quarter worth $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Akero Therapeutics during the third quarter worth $205,000. Victory Capital Management Inc. acquired a new stake in shares of Akero Therapeutics in the third quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Akero Therapeutics in the third quarter valued at $265,000.

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.