Akero Therapeutics (NASDAQ:AKRO) Coverage Initiated at TD Cowen

Key Points

• TD Cowen has initiated coverage on Akero Therapeutics (NASDAQ:AKRO), giving it a "buy" rating and setting a price target of $76.00, suggesting a potential upside of 57.12% from its previous close.
• Analysts have shown strong support for the stock, with seven rating it as a buy and an average price target of $81.57, despite Citigroup and Bank of America adjusting their price targets slightly.
• CEO Andrew Cheng recently sold over 37,000 shares of the company, representing a 6.37% decrease in his ownership, amid insider trading activity that has seen significant shares sold in recent months.

TD Cowen initiated coverage on shares of Akero Therapeutics (NASDAQ:AKRO - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $76.00 price target on the stock. TD Cowen's price objective would indicate a potential upside of 43.97% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Bank of America raised their target price on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup cut their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics has an average rating of "Buy" and an average target price of $81.57.

Akero Therapeutics Trading Up 6.5%

Shares of NASDAQ AKRO traded up $3.23 during midday trading on Monday, reaching $52.79. The company had a trading volume of 2,591,084 shares, compared to its average volume of 944,427. The firm's fifty day moving average price is $52.15 and its 200-day moving average price is $46.49. The stock has a market cap of $4.21 billion, a PE ratio of -27.07 and a beta of -0.28. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03. Akero Therapeutics has a one year low of $21.34 and a one year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of ($1.01) by $1.91. On average, equities research analysts anticipate that Akero Therapeutics will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, insider Timothy Rolph sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $51.09, for a total value of $638,625.00. Following the completion of the transaction, the insider owned 167,124 shares of the company's stock, valued at $8,538,365.16. This trade represents a 6.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Scott A. Gangloff sold 848 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total transaction of $46,504.32. Following the completion of the transaction, the chief technology officer directly owned 23,452 shares of the company's stock, valued at $1,286,107.68. This represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,406 shares of company stock worth $10,979,995. Insiders own 7.07% of the company's stock.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of Akero Therapeutics in the 2nd quarter valued at $28,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Akero Therapeutics in the 1st quarter worth approximately $32,000. GF Fund Management CO. LTD. purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC grew its position in Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after acquiring an additional 1,582 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after purchasing an additional 390 shares during the period.

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.