HC Wainwright Forecasts Strong Price Appreciation for Akero Therapeutics (NASDAQ:AKRO) Stock

Akero Therapeutics (NASDAQ:AKRO) had its target price raised by HC Wainwright from $50.00 to $72.00 in a report released on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Akero Therapeutics’ FY2029 earnings at $5.58 EPS.

Separately, Citigroup initiated coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.57.

Akero Therapeutics Stock Performance

AKRO stock opened at $54.00 on Monday. Akero Therapeutics has a 1-year low of $15.32 and a 1-year high of $58.40. The business’s 50-day moving average price is $29.31 and its two-hundred day moving average price is $28.51. The firm has a market cap of $3.77 billion, a PE ratio of -14.40 and a beta of -0.19. 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 issued its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, research analysts forecast that Akero Therapeutics will post -3.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Catriona Yale sold 9,061 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $27.73, for a total value of $251,261.53. Following the completion of the transaction, the insider now directly owns 74,158 shares of the company’s stock, valued at approximately $2,056,401.34. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 108,366 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 323,870 shares of company stock valued at $11,751,090 in the last three months. 7.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after buying an additional 2,782,029 shares during the last quarter. Janus Henderson Group PLC raised its stake in Akero Therapeutics by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock valued at $203,053,000 after acquiring an additional 201,225 shares during the period. RTW Investments LP lifted its holdings in Akero Therapeutics by 9.0% during the 3rd quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock valued at $169,829,000 after purchasing an additional 487,450 shares during the last quarter. Perceptive Advisors LLC boosted its position in Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after purchasing an additional 112,426 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Akero Therapeutics in the third quarter valued at $37,392,000.

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.