Akero Therapeutics (NASDAQ:AKRO) Price Target Raised to $72.00

Akero Therapeutics (NASDAQ:AKRO) had its price objective upped by HC Wainwright from $50.00 to $72.00 in a research note published on Monday, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Akero Therapeutics’ FY2029 earnings at $5.58 EPS.

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

Akero Therapeutics Trading Up 4.9 %

Akero Therapeutics stock opened at $54.00 on Monday. Akero Therapeutics has a one year low of $15.32 and a one year high of $58.40. The company’s fifty day moving average price is $29.31 and its two-hundred day moving average price is $28.51. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -14.40 and a beta of -0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew Cheng sold 108,366 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the completion of the sale, the chief executive officer now owns 605,417 shares in the company, valued at $19,209,881.41. This trade represents a 15.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the sale, the vice president now owns 17,858 shares in the company, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,870 shares of company stock worth $11,751,090. Company insiders own 7.94% of the company’s stock.

Institutional Trading of Akero Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its position in 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 worth $71,000 after purchasing an additional 446 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Akero Therapeutics by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after buying an additional 1,446 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Akero Therapeutics by 13.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock valued at $485,000 after buying an additional 2,049 shares during the period. Handelsbanken Fonder AB raised its position in shares of Akero Therapeutics by 12.4% during the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock worth $574,000 after acquiring an additional 2,200 shares during the last quarter. Finally, LMR Partners LLP lifted its stake in shares of Akero Therapeutics by 17.0% during the third quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock valued at $591,000 after acquiring an additional 2,997 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.