Akero Therapeutics (NASDAQ:AKRO) Upgraded to "Buy" at Bank of America

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) was upgraded by equities researchers at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has a $63.00 price target on the stock, up from their prior price target of $35.00. Bank of America's target price would indicate a potential upside of 14.02% from the company's previous close.

A number of other research firms have also weighed in on AKRO. Citigroup boosted their target price on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. Canaccord Genuity Group upped their price objective on Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday. HC Wainwright lifted their target price on Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a report on Monday. Finally, Morgan Stanley raised their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an "overweight" rating in a research report on Tuesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $66.29.

Akero Therapeutics Stock Up 2.3 %

Shares of AKRO traded up $1.25 on Thursday, hitting $55.25. The company's stock had a trading volume of 1,597,850 shares, compared to its average volume of 2,134,068. 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 has a fifty-two week low of $15.32 and a fifty-two week high of $58.40. The firm's fifty day moving average price is $29.78 and its 200-day moving average price is $28.69. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -14.79 and a beta of -0.19.

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

Insider Activity at Akero Therapeutics

In related news, COO Jonathan Young sold 50,716 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $31.57, for a total value of $1,601,104.12. Following the transaction, the chief operating officer now directly owns 216,286 shares in the company, valued at $6,828,149.02. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $505,120.70. Following the sale, the insider now owns 74,158 shares of the company's stock, valued at $2,419,033.96. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 323,870 shares of company stock worth $11,751,090 in the last 90 days. Corporate insiders own 7.94% of the company's stock.

Institutional Investors Weigh In On Akero Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of AKRO. Rhumbline Advisers boosted its stake in shares of Akero Therapeutics by 1.3% in the 4th quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock worth $2,940,000 after buying an additional 1,310 shares during the last quarter. abrdn plc increased its position in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock valued at $7,505,000 after purchasing an additional 146,424 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Akero Therapeutics by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock worth $412,000 after buying an additional 1,446 shares during the last quarter. SG Americas Securities LLC grew its position in Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after buying an additional 583,486 shares during the period. Finally, Exome Asset Management LLC purchased a new stake in Akero Therapeutics during the third quarter worth about $2,212,000.

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.