Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives $46.83 Consensus PT from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $46.83.

A number of equities research analysts recently issued reports on AKRO shares. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup assumed coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price target on the stock.

Akero Therapeutics Stock Down 2.2 %

Akero Therapeutics stock opened at $28.25 on Thursday. The firm has a 50 day moving average price of $30.68 and a 200-day moving average price of $27.71. 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 twelve month low of $15.32 and a twelve month high of $37.00. The company has a market capitalization of $1.97 billion, a P/E ratio of -7.53 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO) 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). As a group, equities analysts predict that Akero Therapeutics will post -3.96 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total transaction of $281,800.00. Following the completion of the sale, the chief operating officer now owns 226,286 shares in the company, valued at approximately $6,376,739.48. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Catriona Yale sold 9,061 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,056,401.34. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 396,802 shares of company stock valued at $12,396,400 in the last three months. Company insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Akero Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares in the last quarter. Eastern Bank purchased a new position in shares of Akero Therapeutics during the 3rd quarter valued at about $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in Akero Therapeutics in the third quarter worth approximately $205,000. Victory Capital Management Inc. bought a new position in Akero Therapeutics during the third quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Akero Therapeutics during the third quarter valued at approximately $265,000.

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.