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

Key Points

• Akero Therapeutics has received a consensus recommendation of "Buy" from eight brokerages, with an average 1-year price target of $81.14.
• Insider selling was noted, with CEO Andrew Cheng selling 30,000 shares for $1.46 million, reducing his ownership by 5.76%.
• The company reported earnings of ($0.86) per share, exceeding expectations, with analysts predicting a fiscal year EPS of -3.99.

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $81.1429.

A number of brokerages have commented on AKRO. HC Wainwright began coverage on shares of Akero Therapeutics in a research report on Thursday, September 4th. They set a "buy" rating and a $72.00 price target on the stock. Cowen began coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating on the stock. Wall Street Zen cut shares of Akero Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, 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 on the stock.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $48.59, for a total transaction of $1,457,700.00. Following the transaction, the chief executive officer directly owned 490,757 shares in the company, valued at $23,845,882.63. This trade represents a 5.76% 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 Timothy Rolph sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.17, for a total transaction of $552,125.00. Following the completion of the transaction, the insider owned 167,124 shares in the company, valued at $7,381,867.08. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,753 shares of company stock valued at $8,088,599. 7.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AKRO. FNY Investment Advisers LLC bought a new position in shares of Akero Therapeutics in the second quarter worth approximately $28,000. Northwest & Ethical Investments L.P. bought a new position in shares of Akero Therapeutics in the first quarter worth approximately $32,000. PNC Financial Services Group Inc. grew its holdings in shares of Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after purchasing an additional 390 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Akero Therapeutics in the second quarter worth approximately $71,000. Finally, GF Fund Management CO. LTD. grew its holdings in shares of Akero Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock worth $72,000 after purchasing an additional 321 shares during the last quarter.

Akero Therapeutics Stock Up 3.3%

AKRO stock opened at $47.74 on Friday. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. The company's 50 day moving average is $47.49 and its 200 day moving average is $46.55. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -23.87 and a beta of -0.24. Akero Therapeutics has a 1-year low of $21.34 and a 1-year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Sell-side analysts predict that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

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.

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