Akero Therapeutics (NASDAQ:AKRO) Given New $72.00 Price Target at HC Wainwright

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) had its target price increased by research analysts at HC Wainwright from $50.00 to $72.00 in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 40.17% from the company's current price.

Separately, Citigroup assumed coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They issued a "buy" rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.50.

Akero Therapeutics Price Performance

NASDAQ:AKRO traded up $25.19 during midday trading on Monday, hitting $51.37. The company had a trading volume of 15,265,313 shares, compared to its average volume of 1,885,232. The stock's fifty day moving average price is $28.47 and its 200-day moving average price is $28.14. Akero Therapeutics has a 52-week low of $15.32 and a 52-week high of $58.40. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.59 billion, a PE ratio of -13.70 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, research analysts expect that Akero Therapeutics will post -3.96 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00. Following the sale, the chief operating officer now owns 218,083 shares of the company's stock, valued at approximately $6,112,866.49. The trade was a 4.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Catriona Yale sold 15,485 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $32.62, for a total transaction of $505,120.70. Following the transaction, the insider now owns 74,158 shares in the company, valued at $2,419,033.96. This represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,135 shares of company stock valued at $8,223,000 in the last 90 days. Insiders own 7.94% of the company's stock.

Institutional Investors Weigh In On Akero Therapeutics

Several hedge funds have recently made changes to their positions in AKRO. Mirae Asset Global Investments Co. Ltd. grew 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 worth $71,000 after purchasing an additional 446 shares during the period. Eastern Bank bought a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $205,000. Victory Capital Management Inc. purchased a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Akero Therapeutics during the 3rd quarter valued at approximately $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.