Akero Therapeutics (NASDAQ:AKRO) Rating Increased to Hold at Wall Street Zen

Key Points

• Akero Therapeutics (NASDAQ:AKRO) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment.
• Several analysts, including TD Cowen and Citigroup, maintain a "buy" rating on the stock, with a target price ranging from $64.00 to $78.00.
• The company recently reported a quarterly earnings loss of ($0.86) per share, which was better than the consensus estimate, and analysts project a full-year loss of -3.99 EPS.

Wall Street Zen upgraded shares of Akero Therapeutics (NASDAQ:AKRO - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other research firms have also issued reports on AKRO. Citigroup dropped their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Bank of America upped their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, TD Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $81.57.

Akero Therapeutics Stock Up 0.7%

AKRO traded up $0.35 on Friday, hitting $47.95. 808,238 shares of the company were exchanged, compared to its average volume of 1,091,042. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. The stock's fifty day moving average is $51.59 and its 200-day moving average is $47.19. The company has a market cap of $3.84 billion, a PE ratio of -23.98 and a beta of -0.28. Akero Therapeutics has a 12 month low of $21.34 and a 12 month high of $58.40.

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

Insider Transactions at Akero Therapeutics

In other news, insider Timothy Rolph sold 25,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the transaction, the insider owned 169,721 shares in the company, valued at approximately $9,341,443.84. This trade represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Cheng sold 37,837 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the transaction, the chief executive officer owned 556,487 shares in the company, valued at approximately $30,078,122.35. This trade represents a 6.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,406 shares of company stock worth $12,013,920 in the last ninety days. 7.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in Akero Therapeutics during the 2nd quarter worth $28,000. Northwest & Ethical Investments L.P. bought a new position in Akero Therapeutics during the 1st quarter worth $32,000. GF Fund Management CO. LTD. bought a new position in Akero Therapeutics during the 4th quarter worth $41,000. Sterling Capital Management LLC increased its stake in Akero Therapeutics by 764.3% during the 4th 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 during the period. Finally, PNC Financial Services Group Inc. increased its stake in Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after acquiring an additional 390 shares during the period.

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.