Akero Therapeutics (NASDAQ:AKRO) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Akero Therapeutics (NASDAQ:AKROFree Report) from a neutral rating to a buy rating in a report issued on Thursday morning, Marketbeat reports. Bank of America currently has $63.00 price objective on the stock, up from their prior price objective of $35.00.

A number of other analysts have also recently issued reports on the company. Morgan Stanley upped their target price on Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a research report on Tuesday. HC Wainwright increased their price target on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group raised their price target on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup upped their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $66.29.

Get Our Latest Analysis on AKRO

Akero Therapeutics Stock Performance

Shares of AKRO stock opened at $55.36 on Thursday. Akero Therapeutics has a 52 week low of $15.32 and a 52 week high of $58.40. The firm has a 50 day moving average of $29.78 and a two-hundred day moving average of $28.69. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.86 billion, a PE ratio of -14.76 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, research analysts predict that Akero Therapeutics will post -3.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Catriona Yale sold 9,061 shares of the company’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 in the company, valued at approximately $2,056,401.34. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cheng sold 30,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the completion of the transaction, the chief executive officer now directly owns 716,062 shares of the company’s stock, valued at approximately $39,311,803.80. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,303 shares of company stock valued at $6,206,412. Insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after purchasing an additional 446 shares during the last quarter. Eastern Bank acquired a new position in Akero Therapeutics during the third quarter worth about $100,000. Summit Financial Wealth Advisors LLC bought a new stake in Akero Therapeutics in the third quarter worth about $205,000. Victory Capital Management Inc. bought a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $265,000.

About Akero Therapeutics

(Get Free Report)

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.

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