Akero Therapeutics (NASDAQ:AKRO) Receives $54.40 Average PT from Analysts

Shares of Akero Therapeutics (NASDAQ:AKRO) have earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $54.40.

A number of brokerages recently issued reports on AKRO. Canaccord Genuity boosted their price objective on Akero Therapeutics from $36.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Jefferies Financial Group boosted their price objective on Akero Therapeutics from $31.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. HC Wainwright upped their price target on Akero Therapeutics from $45.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. ValuEngine downgraded Akero Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Zacks Investment Research downgraded Akero Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd.

In other news, Director Kevin Bitterman sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $28.93, for a total transaction of $376,090.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.09% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG grew its position in shares of Akero Therapeutics by 43.6% during the 2nd quarter. UBS Group AG now owns 1,452 shares of the company’s stock worth $36,000 after buying an additional 441 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Akero Therapeutics during the 2nd quarter worth $36,000. Great West Life Assurance Co. Can bought a new position in shares of Akero Therapeutics during the 2nd quarter worth $37,000. Strs Ohio grew its position in shares of Akero Therapeutics by 53.8% during the 2nd quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $49,000 after buying an additional 700 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Akero Therapeutics by 340.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the company’s stock valued at $52,000 after purchasing an additional 1,913 shares in the last quarter. 62.99% of the stock is currently owned by institutional investors and hedge funds.

Akero Therapeutics stock opened at $28.35 on Thursday. The business has a 50-day simple moving average of $32.09 and a two-hundred day simple moving average of $28.78. The company has a market cap of $983.77 million, a P/E ratio of -13.50 and a beta of 0.54. Akero Therapeutics has a 52-week low of $10.78 and a 52-week high of $41.16.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.09. On average, equities research analysts forecast that Akero Therapeutics will post -2.51 EPS for the current fiscal year.

About Akero Therapeutics

Akero Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development and commercialization of transformative treatments for serious metabolic diseases with high unmet medical need. Its lead product candidate is AKR-001, which completed Phase Ib clinical trial for the treatment of non-alcoholic steatohepatitis disease.

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Analyst Recommendations for Akero Therapeutics (NASDAQ:AKRO)

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