UBS Group Forecasts Strong Price Appreciation for Akero Therapeutics (NASDAQ:AKRO) Stock

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) had its price target boosted by analysts at UBS Group from $42.00 to $109.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 93.23% from the company's current price.

Other analysts have also recently issued research reports about the company. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup upped their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. HC Wainwright lifted their price objective on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Morgan Stanley boosted their target price on shares of Akero Therapeutics from $46.00 to $96.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group raised their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics has a consensus rating of "Buy" and an average target price of $75.86.

Akero Therapeutics Stock Up 4.8 %

Shares of AKRO stock traded up $2.56 during mid-day trading on Friday, reaching $56.41. 1,281,112 shares of the company were exchanged, compared to its average volume of 2,059,096. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The business's 50 day simple moving average is $31.13 and its 200 day simple moving average is $29.27. The company has a market capitalization of $3.94 billion, a P/E ratio of -15.04 and a beta of -0.11. Akero Therapeutics has a fifty-two week low of $15.32 and a fifty-two week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced 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). Research analysts predict that Akero Therapeutics will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In related news, CEO Andrew Cheng sold 25,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.09, for a total value of $802,250.00. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company's stock, valued at $19,427,831.53. This represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Catriona Yale sold 9,061 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.73, for a total transaction of $251,261.53. Following the transaction, the insider now directly owns 74,158 shares in the company, valued at approximately $2,056,401.34. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,303 shares of company stock worth $6,206,412. 7.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company's stock worth $226,554,000 after buying an additional 2,782,029 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $37,392,000. SG Americas Securities LLC raised its holdings in shares of Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock worth $16,636,000 after purchasing an additional 583,486 shares in the last quarter. RTW Investments LP lifted its stake in Akero Therapeutics by 9.0% during the third quarter. RTW Investments LP now owns 5,919,435 shares of the company's stock valued at $169,829,000 after purchasing an additional 487,450 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company's stock worth $203,053,000 after buying an additional 201,225 shares in the last quarter.

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.