Brokerages Set Akero Therapeutics (NASDAQ:AKRO) PT at $54.40

Shares of Akero Therapeutics (NASDAQ:AKRO) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $54.40.

Several analysts have recently weighed in on AKRO shares. Canaccord Genuity upped their price objective on Akero Therapeutics from $36.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Chardan Capital reaffirmed a “buy” rating on shares of Akero Therapeutics in a report on Thursday, August 13th. Morgan Stanley initiated coverage on Akero Therapeutics in a report on Thursday, September 10th. They set an “overweight” rating and a $70.00 target price for the company. Jefferies Financial Group upped their target price on Akero Therapeutics from $31.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, BidaskClub raised Akero Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, September 12th.

In other Akero Therapeutics news, major shareholder Global Strategic Fund I. Venbio sold 4,603 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $33.83, for a total value of $155,719.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Apple Tree Partners Iv, L.P. bought 415,000 shares of the company’s stock in a transaction on Friday, July 10th. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $14,940,000.00. The disclosure for this purchase can be found here. 7.09% of the stock is currently owned by insiders.

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

Shares of Akero Therapeutics stock opened at $32.64 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -15.54 and a beta of 0.46. The business has a fifty day simple moving average of $34.45 and a 200-day simple moving average of $27.42. Akero Therapeutics has a fifty-two week low of $10.78 and a fifty-two 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 for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.09. As a group, equities research analysts expect that Akero Therapeutics will post -2.51 EPS for the current 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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