Akero Therapeutics (NASDAQ:AKRO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Akero Therapeutics (NASDAQ:AKROGet Free Report) had its target price raised by HC Wainwright from $50.00 to $72.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 39.89% from the stock’s previous close.

Separately, Citigroup began coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.57.

Read Our Latest Research Report on AKRO

Akero Therapeutics Stock Down 0.5 %

Shares of AKRO stock opened at $51.47 on Monday. 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 stock’s 50 day simple moving average is $28.90 and its 200 day simple moving average is $28.33. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -13.73 and a beta of -0.19. Akero Therapeutics has a twelve month low of $15.32 and a twelve month high of $58.40.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last released its 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, research analysts predict that Akero Therapeutics will post -3.96 EPS for the current year.

Insider Activity at Akero Therapeutics

In other news, CFO William Richard White sold 2,817 shares of the 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 transaction, the chief financial officer now owns 38,335 shares of the company’s stock, valued at $1,180,334.65. This represents a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the transaction, the chief operating officer now owns 218,083 shares in the company, valued at $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,620 shares of company stock valued at $8,076,127 over the last ninety days. 7.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds have recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akero Therapeutics by 21.6% in the 3rd 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. Eastern Bank acquired a new stake in Akero Therapeutics in the third quarter worth $100,000. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics during the third quarter worth about $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics in the third quarter valued at about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Akero Therapeutics in the third quarter worth about $265,000.

Akero Therapeutics Company Profile

(Get Free Report)

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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Analyst Recommendations for Akero Therapeutics (NASDAQ:AKRO)

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