Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up - Should You Buy?

Key Points

• Akero Therapeutics experienced a significant stock price increase, opening at $54.52 after closing at $46.49, and last traded at $54.15 with a trading volume of 14,488,555 shares.
• Several analysts have downgraded Akero's rating, with Jefferies reducing its price target from $75.00 to $56.00, while HC Wainwright set a new target of $72.00 indicating mixed analyst sentiment.
• The company reported an earnings per share of ($0.86), exceeding the consensus estimate, while anticipating an overall EPS of -3.99 for the current fiscal year.

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $46.49, but opened at $54.52. Akero Therapeutics shares last traded at $54.15, with a volume of 14,488,555 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AKRO shares. Jefferies Financial Group downgraded Akero Therapeutics from a "buy" rating to a "hold" rating and dropped their price objective for the company from $75.00 to $56.00 in a report on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Akero Therapeutics in a report on Wednesday. HC Wainwright started coverage on Akero Therapeutics in a report on Thursday, September 4th. They issued a "buy" rating and a $72.00 price objective for the company. Cowen started coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating for the company. Finally, TD Cowen started coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Akero Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $75.63.

Akero Therapeutics Stock Up 16.3%

The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -27.04 and a beta of -0.29. The firm has a 50-day moving average price of $46.93 and a two-hundred day moving average price of $46.66.

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 period last year, the firm earned ($0.81) EPS. As a group, sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity at Akero Therapeutics

In other news, CFO William Richard White sold 659 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $28,350.18. Following the completion of the transaction, the chief financial officer directly owned 57,752 shares of the company's stock, valued at $2,484,491.04. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Rolph sold 12,500 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $44.17, for a total value of $552,125.00. Following the transaction, the insider directly owned 167,124 shares of the company's stock, valued at $7,381,867.08. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,753 shares of company stock valued at $6,406,414 over the last ninety days. Company insiders own 7.07% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AKRO. FNY Investment Advisers LLC bought a new stake in Akero Therapeutics in the second quarter valued at approximately $28,000. Northwest & Ethical Investments L.P. bought a new stake in Akero Therapeutics in the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. raised its stake in Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after buying an additional 390 shares during the period. TD Waterhouse Canada Inc. bought a new stake in Akero Therapeutics in the second quarter valued at approximately $71,000. Finally, GF Fund Management CO. LTD. raised its stake in Akero Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after buying an additional 321 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.

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