Akero Therapeutics (NASDAQ:AKRO) Given New $73.00 Price Target at Canaccord Genuity Group

Akero Therapeutics (NASDAQ:AKRO) had its target price raised by Canaccord Genuity Group from $56.00 to $73.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

AKRO has been the topic of a number of other reports. HC Wainwright boosted their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research note on Monday. Citigroup boosted their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.57.

Akero Therapeutics Stock Down 0.5 %

Shares of AKRO opened at $51.47 on Tuesday. The company has a market capitalization of $3.59 billion, a PE ratio of -13.73 and a beta of -0.19. Akero Therapeutics has a 12 month low of $15.32 and a 12 month high of $58.40. The stock’s 50-day moving average price is $28.90 and its two-hundred day moving average price is $28.33. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). On average, analysts anticipate that Akero Therapeutics will post -3.96 EPS for the current year.

Insiders Place Their Bets

In other Akero Therapeutics news, insider Catriona Yale sold 15,485 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the sale, the insider now directly owns 74,158 shares of the company’s stock, valued at approximately $2,419,033.96. The trade was a 17.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Patrick Lamy sold 925 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the sale, the vice president now directly owns 17,858 shares of the company’s stock, valued at $549,847.82. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,620 shares of company stock valued at $8,076,127. Corporate insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors have recently modified their holdings of the business. abrdn plc grew its holdings in shares of Akero Therapeutics by 118.7% in the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after acquiring an additional 146,424 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Akero Therapeutics by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after acquiring an additional 1,446 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock valued at $16,636,000 after acquiring an additional 583,486 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of Akero Therapeutics in the third quarter valued at approximately $2,212,000. Finally, Barclays PLC grew its holdings in shares of Akero Therapeutics by 127.9% in the third quarter. Barclays PLC now owns 127,668 shares of the company’s stock valued at $3,662,000 after acquiring an additional 71,652 shares in the last quarter.

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.