Lifesci Capital Downgrades Akero Therapeutics (NASDAQ:AKRO) to Hold

Key Points

• Lifesci Capital has downgraded Akero Therapeutics from a "strong-buy" to a "hold" rating, reflecting concerns about the company's future performance.
• Several analysts have adjusted their ratings on Akero, with Canaccord Genuity Group lowering its target price from $73 to $54.
• The company reported an earnings per share of ($0.86) for the last quarter, exceeding analysts' expectations, but continues to face significant financial challenges.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) was downgraded by stock analysts at Lifesci Capital from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

AKRO has been the topic of a number of other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Akero Therapeutics in a research report on Wednesday. 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 report on Thursday. HC Wainwright reiterated a "neutral" rating and issued a $54.00 target price (down from $72.00) on shares of Akero Therapeutics in a report on Friday. TD Cowen assumed coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating and a $76.00 target price on the stock. Finally, Cowen assumed coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating on the stock. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $73.38.

Akero Therapeutics Stock Performance

AKRO opened at $53.88 on Thursday. The firm has a market capitalization of $4.31 billion, a PE ratio of -26.94 and a beta of -0.29. Akero Therapeutics has a twelve month low of $21.34 and a twelve month high of $58.40. The firm's 50-day moving average price is $47.15 and its 200 day moving average price is $46.78. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter last year, the business earned ($0.81) EPS. As a group, sell-side analysts expect that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

Insider Activity at Akero Therapeutics

In other news, insider Timothy Rolph sold 12,500 shares of the company's 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 in the company, valued at approximately $7,381,867.08. This represents a 6.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the transaction, the chief operating officer owned 197,484 shares in the company, valued at approximately $9,100,062.72. This represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 149,253 shares of company stock valued at $6,982,414. 7.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Akero Therapeutics by 17.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,952 shares of the company's stock worth $104,000 after acquiring an additional 294 shares during the last quarter. GF Fund Management CO. LTD. increased its stake in Akero Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock worth $72,000 after buying an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after buying an additional 338 shares during the period. Amalgamated Bank increased its stake in Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after buying an additional 410 shares during the period. Finally, Summit Investment Advisors Inc. increased its stake in Akero Therapeutics by 6.3% during the 1st quarter. Summit Investment Advisors Inc. now owns 7,542 shares of the company's stock worth $305,000 after buying an additional 450 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.

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