Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.13.

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Akero Therapeutics in a research note on Thursday, June 20th. Wolfe Research assumed coverage on shares of Akero Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a report on Monday, August 12th.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO opened at $26.77 on Tuesday. The firm’s 50 day moving average is $26.09 and its two-hundred day moving average is $23.94. The firm has a market capitalization of $1.86 billion, a P/E ratio of -8.37 and a beta of -0.26. The company has a current ratio of 24.89, a quick ratio of 24.89 and a debt-to-equity ratio of 0.04. Akero Therapeutics has a 52 week low of $11.25 and a 52 week high of $53.00.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09. Analysts anticipate that Akero Therapeutics will post -3.64 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 1,738 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $15,849,817.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Akero Therapeutics news, COO Jonathan Young sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.40, for a total transaction of $117,000.00. Following the completion of the sale, the chief operating officer now directly owns 246,854 shares of the company’s stock, valued at $5,776,383.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at $15,849,817.06. The disclosure for this sale can be found here. Insiders sold a total of 276,686 shares of company stock valued at $7,504,883 over the last ninety days. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKRO. RTW Investments LP acquired a new stake in shares of Akero Therapeutics in the fourth quarter worth $83,891,000. Wellington Management Group LLP increased its holdings in shares of Akero Therapeutics by 247.7% in the 4th quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock valued at $67,294,000 after purchasing an additional 2,053,028 shares during the period. Janus Henderson Group PLC lifted its position in shares of Akero Therapeutics by 42.2% in the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock worth $154,589,000 after purchasing an additional 1,815,569 shares in the last quarter. Redmile Group LLC lifted its position in shares of Akero Therapeutics by 67.5% in the first quarter. Redmile Group LLC now owns 1,858,702 shares of the company’s stock worth $46,951,000 after purchasing an additional 749,226 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Akero Therapeutics by 19.0% during the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock worth $92,702,000 after purchasing an additional 584,875 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.