HC Wainwright Has Negative Outlook of AKRO FY2024 Earnings

Akero Therapeutics, Inc. (NASDAQ:AKRO) – Investment analysts at HC Wainwright lowered their FY2024 EPS estimates for Akero Therapeutics in a research note issued on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the company will post earnings of ($3.90) per share for the year, down from their previous forecast of ($3.44). HC Wainwright currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for Akero Therapeutics’ current full-year earnings is ($3.94) per share. HC Wainwright also issued estimates for Akero Therapeutics’ Q4 2024 earnings at ($1.13) EPS, Q1 2025 earnings at ($1.16) EPS, Q2 2025 earnings at ($1.19) EPS, Q3 2025 earnings at ($1.20) EPS, Q4 2025 earnings at ($1.22) EPS, FY2025 earnings at ($4.77) EPS, FY2026 earnings at ($3.91) EPS and FY2027 earnings at ($1.17) EPS.

Akero Therapeutics (NASDAQ:AKRO) last released 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).

Akero Therapeutics Stock Down 5.6 %

AKRO opened at $28.09 on Thursday. The company has a quick ratio of 24.89, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $29.43 and a 200-day moving average price of $25.53. Akero Therapeutics has a twelve month low of $13.86 and a twelve month high of $37.00. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -7.43 and a beta of -0.26.

Insider Activity

In related news, insider Catriona Yale sold 8,851 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $27.53, for a total transaction of $243,668.03. Following the completion of the sale, the insider now directly owns 75,931 shares in the company, valued at approximately $2,090,380.43. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $15,849,817.06. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 428,397 shares of company stock valued at $12,997,971 over the last three months. Insiders own 7.94% of the company’s stock.

Institutional Trading of Akero Therapeutics

Several large investors have recently added to or reduced their stakes in AKRO. Russell Investments Group Ltd. boosted its position in shares of Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after purchasing an additional 1,183 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $71,000 after purchasing an additional 446 shares during the period. Eastern Bank bought a new position in shares of Akero Therapeutics in the third quarter worth approximately $100,000. Headlands Technologies LLC boosted its position in shares of Akero Therapeutics by 253.5% in the first quarter. Headlands Technologies LLC now owns 4,217 shares of the company’s stock worth $107,000 after purchasing an additional 3,024 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Akero Therapeutics by 20.0% in the first quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after purchasing an additional 1,030 shares during the period.

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.