HC Wainwright Issues Positive Forecast for Akero Therapeutics (NASDAQ:AKRO) Stock Price

Akero Therapeutics (NASDAQ:AKRO) had its target price raised by equities research analysts at HC Wainwright from $50.00 to $72.00 in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 38.91% from the company’s current price.

Separately, Citigroup began coverage on Akero Therapeutics in a research report on Monday, November 18th. They set a “buy” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Akero Therapeutics Stock Up 98.0 %

Shares of NASDAQ:AKRO traded up $25.65 during midday trading on Monday, hitting $51.83. The stock had a trading volume of 9,954,768 shares, compared to its average volume of 1,539,554. The company has a market cap of $3.62 billion, a P/E ratio of -13.82 and a beta of -0.19. Akero Therapeutics has a 12 month low of $15.32 and a 12 month high of $58.40. The business’s 50-day simple moving average is $28.47 and its 200-day simple moving average is $28.14. 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 (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). On average, sell-side analysts forecast that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Transactions at Akero Therapeutics

In other news, insider Catriona Yale sold 9,061 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.73, for a total transaction of $251,261.53. Following the transaction, the insider now directly owns 74,158 shares of the company’s stock, valued at approximately $2,056,401.34. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,135 shares of company stock worth $8,223,000. Company insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in shares of Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock valued at $226,554,000 after purchasing an additional 2,782,029 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Akero Therapeutics by 2.9% in the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock valued at $203,053,000 after buying an additional 201,225 shares in the last quarter. RTW Investments LP grew its position in Akero Therapeutics by 9.0% in the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock valued at $169,829,000 after acquiring an additional 487,450 shares during the last quarter. Perceptive Advisors LLC raised its stake in Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after acquiring an additional 112,426 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Akero Therapeutics in the third quarter worth about $37,392,000.

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.