Akero Therapeutics (NASDAQ:AKRO) Now Covered by Analysts at HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $72.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 61.19% from the company’s current price.

Several other research analysts also recently weighed in on the company. Bank of America boosted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Citigroup dropped their target price on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised Akero Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. TD Cowen began coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a “buy” rating and a $76.00 price target for the company. Finally, Cowen began coverage on Akero Therapeutics in a research report on Monday, August 4th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $81.14.

Akero Therapeutics Price Performance

Akero Therapeutics stock traded down $0.95 during midday trading on Thursday, reaching $44.67. 32,835 shares of the company were exchanged, compared to its average volume of 1,363,561. The firm’s 50-day simple moving average is $50.09 and its 200-day simple moving average is $46.81. Akero Therapeutics has a 1 year low of $21.34 and a 1 year high of $58.40. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -22.44 and a beta of -0.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter last year, the firm earned ($0.81) EPS. On average, analysts anticipate that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, VP Patrick Lamy sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $52.88, for a total transaction of $105,760.00. Following the completion of the sale, the vice president directly owned 29,891 shares in the company, valued at $1,580,636.08. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $52.95, for a total value of $529,500.00. Following the sale, the insider directly owned 91,488 shares in the company, valued at approximately $4,844,289.60. The trade was a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,906 shares of company stock worth $10,944,055. 7.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Akero Therapeutics by 6,229.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 449,110 shares of the company’s stock worth $12,495,000 after buying an additional 442,014 shares during the period. Hsbc Holdings PLC grew its position in shares of Akero Therapeutics by 8.5% during the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock worth $220,000 after acquiring an additional 621 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Akero Therapeutics by 29.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 124,592 shares of the company’s stock worth $3,466,000 after acquiring an additional 28,043 shares during the period. Northern Trust Corp lifted its position in Akero Therapeutics by 6.1% in the 4th quarter. Northern Trust Corp now owns 620,321 shares of the company’s stock valued at $17,257,000 after purchasing an additional 35,737 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Akero Therapeutics during the 4th quarter valued at about $422,000.

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.