Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.13.

Several research analysts have commented on AKRO shares. Evercore ISI decreased their price objective on shares of Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Canaccord Genuity Group decreased their price objective on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 13th. Bank of America started coverage on shares of Akero Therapeutics in a report on Monday, April 22nd. They issued a “neutral” rating and a $30.00 price objective for the company. Wolfe Research started coverage on shares of Akero Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a report on Tuesday, June 11th.

Akero Therapeutics Trading Down 2.6 %

Shares of AKRO opened at $23.98 on Friday. The stock has a market capitalization of $1.66 billion, a P/E ratio of -7.49 and a beta of -0.31. The company has a quick ratio of 30.12, a current ratio of 30.12 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $22.35. Akero Therapeutics has a twelve month low of $11.25 and a twelve month high of $56.66.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.90) earnings per share for the quarter, meeting the consensus estimate of ($0.90). On average, research analysts anticipate that Akero Therapeutics will post -3.82 EPS for the current year.

Insider Buying and Selling

In related news, COO Jonathan Young sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $24.38, for a total value of $121,900.00. Following the completion of the transaction, the chief operating officer now directly owns 263,306 shares in the company, valued at approximately $6,419,400.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Akero Therapeutics news, COO Jonathan Young sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $24.38, for a total transaction of $121,900.00. Following the completion of the sale, the chief operating officer now directly owns 263,306 shares in the company, valued at approximately $6,419,400.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 7,894 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $178,720.16. Following the sale, the chief executive officer now owns 581,553 shares of the company’s stock, valued at $13,166,359.92. The disclosure for this sale can be found here. Insiders sold a total of 31,635 shares of company stock worth $695,716 in the last three months. 7.94% of the stock is owned by corporate insiders.

Institutional Trading of Akero Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Akero Therapeutics during the 4th quarter valued at about $28,000. Russell Investments Group Ltd. boosted its holdings in shares of Akero Therapeutics by 2,366.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after acquiring an additional 1,183 shares during the last quarter. Quarry LP boosted its holdings in shares of Akero Therapeutics by 40.0% during the 4th quarter. Quarry LP now owns 1,750 shares of the company’s stock valued at $41,000 after acquiring an additional 500 shares during the last quarter. Strs Ohio boosted its holdings in shares of Akero Therapeutics by 100.0% during the 4th quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Akero Therapeutics during the 3rd quarter valued at about $51,000.

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.