Akero Therapeutics (NASDAQ:AKRO) Reaches New 52-Week High After Analyst Upgrade

Akero Therapeutics, Inc. (NASDAQ:AKRO) hit a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $46.00 to $96.00. Morgan Stanley currently has an overweight rating on the stock. Akero Therapeutics traded as high as $57.26 and last traded at $54.12, with a volume of 5442847 shares changing hands. The stock had previously closed at $26.18.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright lifted their price target on Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research report on Monday. Finally, 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Akero Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $61.57.

Insiders Place Their Bets

In other Akero Therapeutics news, insider Catriona Yale sold 9,061 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the transaction, the insider now owns 74,158 shares of the company’s stock, valued at $2,056,401.34. This represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $28,480.75. Following the completion of the transaction, the vice president now directly owns 17,858 shares of the company’s stock, valued at approximately $549,847.82. The trade was a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,620 shares of company stock worth $8,076,127 in the last ninety days. 7.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AKRO. American Century Companies Inc. bought a new stake in shares of Akero Therapeutics during the second quarter valued at approximately $347,000. Renaissance Technologies LLC purchased a new stake in shares of Akero Therapeutics during the 2nd quarter valued at about $565,000. The Manufacturers Life Insurance Company raised its position in Akero Therapeutics by 26.1% in the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock worth $2,514,000 after acquiring an additional 22,195 shares during the period. Handelsbanken Fonder AB lifted its position in Akero Therapeutics by 12.4% during the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock valued at $574,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Akero Therapeutics during the 3rd quarter valued at about $371,000.

Akero Therapeutics Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The firm has a market capitalization of $3.59 billion, a P/E ratio of -13.73 and a beta of -0.19. The stock’s 50-day simple moving average is $28.90 and its two-hundred day simple moving average is $28.33.

Akero Therapeutics (NASDAQ:AKRO) last released 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). Equities research analysts expect that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

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.