Akero Therapeutics (NASDAQ:AKRO - Free Report) had its price objective raised by Canaccord Genuity Group from $56.00 to $73.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.
A number of other analysts have also recently issued reports on the stock. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday. HC Wainwright raised their target price on Akero Therapeutics from $50.00 to $72.00 and gave the company a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Akero Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $61.57.
Check Out Our Latest Stock Report on AKRO
Akero Therapeutics Stock Down 0.5 %
Shares of AKRO stock traded down $0.24 during trading on Tuesday, hitting $51.47. 5,194,827 shares of the company were exchanged, compared to its average volume of 2,032,542. The business's 50-day simple moving average is $28.90 and its 200 day simple moving average is $28.33. Akero Therapeutics has a twelve month low of $15.32 and a twelve month high of $58.40. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -13.73 and a beta of -0.19. 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 posted its quarterly 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). As a group, analysts forecast that Akero Therapeutics will post -3.96 EPS for the current fiscal year.
Insider Buying and Selling
In related news, COO Jonathan Young sold 2,503 shares of Akero Therapeutics stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $77,067.37. Following the sale, the chief operating officer now directly owns 203,783 shares of the company's stock, valued at $6,274,478.57. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick Lamy sold 925 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $28,480.75. Following the completion of the transaction, the vice president now directly owns 17,858 shares of the company's stock, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,135 shares of company stock valued at $8,223,000. Insiders own 7.94% of the company's stock.
Institutional Investors Weigh In On Akero Therapeutics
A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $71,000 after acquiring an additional 446 shares during the period. China Universal Asset Management Co. Ltd. raised 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 in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Akero Therapeutics by 13.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company's stock valued at $485,000 after buying an additional 2,049 shares in the last quarter. Handelsbanken Fonder AB grew its position in Akero Therapeutics by 12.4% in the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company's stock valued at $574,000 after acquiring an additional 2,200 shares during the period. Finally, LMR Partners LLP raised its stake in 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 acquiring an additional 2,997 shares in the last quarter.
About Akero Therapeutics
(
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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.
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