Brokerages Set Akero Therapeutics, Inc. (NASDAQ:AKRO) Price Target at $73.38

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have earned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $73.3750.

A number of equities research analysts have weighed in on AKRO shares. Canaccord Genuity Group lowered shares of Akero Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the company from $73.00 to $54.00 in a research note on Thursday, October 9th. Jefferies Financial Group lowered Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $56.00 in a report on Thursday, October 9th. Lifesci Capital cut Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Zacks Research cut Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Akero Therapeutics in a research note on Wednesday, October 8th.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $53.98, for a total transaction of $1,619,400.00. Following the completion of the sale, the chief executive officer directly owned 526,114 shares in the company, valued at approximately $28,399,633.72. The trade was a 5.39% 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. Company insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of Akero Therapeutics in the second quarter worth about $28,000. Smartleaf Asset Management LLC lifted its holdings in Akero Therapeutics by 189.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the company’s stock worth $32,000 after purchasing an additional 442 shares in the last quarter. CWM LLC boosted its stake in Akero Therapeutics by 261.2% in the 3rd quarter. CWM LLC now owns 809 shares of the company’s stock worth $38,000 after purchasing an additional 585 shares during the period. Quarry LP purchased a new stake in Akero Therapeutics during the 3rd quarter valued at approximately $40,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in Akero Therapeutics during the 2nd quarter valued at approximately $71,000.

Akero Therapeutics Stock Performance

AKRO opened at $54.65 on Monday. The company’s 50-day simple moving average is $54.46 and its two-hundred day simple moving average is $51.29. The stock has a market capitalization of $4.50 billion, a P/E ratio of -28.17 and a beta of -0.40. Akero Therapeutics has a 52-week low of $21.34 and a 52-week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.05). Research analysts forecast that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

About Akero Therapeutics

Akero Therapeutics, Inc is a clinical-stage biotechnology company focused on developing novel therapies for severe metabolic diseases, with an initial emphasis on nonalcoholic steatohepatitis (NASH). The company’s research platform leverages engineered versions of endocrine hormones to target key pathways involved in lipid metabolism, glucose regulation and tissue fibrosis. By harnessing the biology of fibroblast growth factor 21 (FGF21), Akero aims to address underlying drivers of metabolic dysfunction rather than merely treating symptoms.

The company’s lead product candidate, efruxifermin, is an Fc-FGF21 fusion protein designed to improve liver health and metabolic parameters in patients with NASH.