Akero Therapeutics, Inc. (NASDAQ:AKRO) Forecasted to Post FY2024 Earnings of ($3.86) Per Share

Akero Therapeutics, Inc. (NASDAQ:AKRO) – Research analysts at Lifesci Capital issued their FY2024 earnings per share estimates for shares of Akero Therapeutics in a report released on Monday, May 13th. Lifesci Capital analyst R. Katkhuda anticipates that the company will post earnings of ($3.86) per share for the year. The consensus estimate for Akero Therapeutics’ current full-year earnings is ($3.93) per share.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday. Bank of America started coverage on shares of Akero Therapeutics in a research report on Monday, April 22nd. They set a “neutral” rating and a $30.00 price target on the stock. Canaccord Genuity Group decreased their price objective on Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday. UBS Group raised their target price on Akero Therapeutics from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Evercore ISI decreased their price target on Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.13.

Akero Therapeutics Stock Down 1.6 %

Shares of AKRO opened at $20.73 on Wednesday. The stock has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $21.44. The company has a quick ratio of 29.27, a current ratio of 30.12 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.43 billion, a PE ratio of -6.48 and a beta of -0.29. Akero Therapeutics has a 52-week low of $11.25 and a 52-week high of $58.38.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.17).

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in Akero Therapeutics by 42.2% in the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock valued at $154,589,000 after acquiring an additional 1,815,569 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Akero Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock worth $102,569,000 after purchasing an additional 384,555 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in Akero Therapeutics by 8.7% in the third quarter. Alkeon Capital Management LLC now owns 3,767,380 shares of the company’s stock valued at $190,554,000 after buying an additional 300,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after buying an additional 584,875 shares in the last quarter. Finally, RTW Investments LP purchased a new stake in Akero Therapeutics during the 4th quarter worth about $83,891,000.

Insider Activity

In related news, COO Jonathan Young sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $24.38, for a total transaction of $121,900.00. Following the completion of the transaction, the chief operating officer now directly owns 263,306 shares in the company, valued at approximately $6,419,400.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Jonathan Young sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $24.38, for a total value of $121,900.00. Following the completion of the transaction, the chief operating officer now owns 263,306 shares of the company’s stock, valued at $6,419,400.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Cheng sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $32.87, for a total transaction of $2,465,250.00. Following the sale, the chief executive officer now directly owns 591,416 shares in the company, valued at $19,439,843.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,646 shares of company stock valued at $3,420,627. 9.69% of the stock is currently owned by corporate insiders.

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.