Akero Therapeutics (NASDAQ:AKRO) Announces Earnings Results

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01), Zacks reports.

Akero Therapeutics Stock Performance

AKRO traded down $1.01 during trading on Tuesday, hitting $44.53. The stock had a trading volume of 1,330,846 shares, compared to its average volume of 874,738. The company has a 50 day moving average price of $39.59 and a 200-day moving average price of $32.92. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -11.87 and a beta of -0.11. Akero Therapeutics has a one year low of $17.86 and a one year high of $58.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 2,817 shares of Akero Therapeutics stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $86,735.43. Following the completion of the transaction, the chief financial officer now directly owns 38,335 shares of the company's stock, valued at $1,180,334.65. The trade was a 6.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Young sold 2,503 shares of Akero Therapeutics stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $77,067.37. Following the completion of the transaction, the chief operating officer now directly owns 203,783 shares of the company's stock, valued at $6,274,478.57. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,992 shares of company stock worth $8,509,863 in the last ninety days. 7.94% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright raised their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. UBS Group raised their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Morgan Stanley lifted their target price on Akero Therapeutics from $46.00 to $96.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group lifted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $76.29.

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.